As a heads up...you don't want to post on a public forum anything that might look like a solicitation for funds for an investment unless you have the proper SEC filings.

You have to do manual j to figure out the proper size furnace and air conditioning also need to make sure that your ducts are the proper size (cfm) for the new unit.

I don’t blame you, but take your time to get the proper education so that you don’t need someone to hold your hand.

I see how I didn't properly document that.

Traditional and Section 8 applicants can all apply for any rental.I recommend asking market rent for unit #3, then vet your applicants properly. 

These require a properly sized escape window (minimum 5.7 square feet of openable window, 5.0 if your at grade) a smoke detector in the bedroom, a smoke detector outside of the bedroom within 15 feet of the bedroom door, possibly a carbon monoxide detector outside the bedroom (same rule as smoke detector that is outside the bedroom).  

Not an accountant or cpa but there are many ways to reduce taxable income if you have a business such as paying kids to do some work and make sure you account properly for expenses.

Equity % will be important but since that mortgage remains in 1st position this should be possible to do...as long as the "subject to" deal was structured properly sort of thing. 

If the investor fails to properly manage the asset you can lose money.

I use REI mobile which was actually created by a pair of investors who wanted a CRM that was for REI only.