Non-recourse debt in the SFR space is generally limited to primary residences.

I will be staying in one of those and renting out the other 3, plus a larger 3x2 living space.

We've owned many 20 space parks over the years, and the key items to consider are:1) They can be hard to finance2) They can be hard to sell due to scale3) They can be hard to manage since you can't afford to hire very good talent4) They are too small to weather any big hits in cap-x issuesSo for this deal to work you'd want to have closer proximity to the park, city water and sewer, and no POHs. 

Our goal was to create a space for our members to meet and learn from like-minded investors, and hopefully, you feel this was achieved. 

Many old ranch houses do not have enough closet space.

Most cities and/or counties have a size limit so just build up to your limit and maximize usuable living space if you can or do a two car garage below with living space above the garage.

They will have the front door entrance through the common space.

I'll definitely keep that in mind when I'm looking for new property managers - I'm working on getting into the small multifamily space, and definitely don't won't do manage all of the additional units I plan on getting in the next few years!

Are the utilities set up for the additional 5 or is there just space for them?

@Ron Singh Is there vacant commercial space in the building?