It actually turned out to be straightforward and took him a couple hours to get it separated and ready for new meters.

It's pretty straightforward and you can do it all online  at https://dcra.dc.gov/service/residential-housing-re....I formed an LLC for a separate business inside DC and found it equally simple to do from the DCRA website.

If my wife and I had started on this path very young and with no background in this and, say, raking in upwards of $120,000 in household income yearly in our jobs, there's no way we would have gone into low-income landlording.

While you cannot plan for every scenario, a well-crafted business plan creates a framework that will help keep you from going down the wrong path.

We really want to pursue this as our path to financial freedom.Recently we came across a grouping of 3 homes.  1 single family home (4/4) recently renovated, and 2 other homes that appear to be single family but are metered for 2 units (6/4 and a 3/1 metered for 3). 

For SFR asking under $300k, I would estimate 8 out of 10 properties I see have obvious additions or modifications that were done poorly (and with no permits).So if relocating isn't an option, and if spending more isn't an option, I think Nat is on the right path here.  

I will be fixing it up first though, mainly cosmetics and duct work, but I am assure with what path I should take to get the most out of it. 

And when I like a fool believe them and go down a path with them, I simply do not get that trophy every time.Although there is a reason and a place for BP community, it is somewhat detached from reality. 

Good luck to you, whichever path you choose.

IS THIS the CORRECT PATH!!!