Do not rely on it for legal advice.

I tell her legally she has ten days to pay and so, on the tenth day she drives on my doorstep and gives me a cashier's check. 

First talk to the City and fined the history of the second unit. is it legal and if the City know about it. you may need this for insurance too!

It wouldn't be a legal bedroom to rent to others that way, but two individuals in a one bedroom is common, just usually is a couple or parent and child in the one room.

Omitting (or using a generic) vacancy rate, leasing fees, management costs, legal expenses, associating fees, maintenance, capital expenses and other fees associated with property ownership can really skew an analysis.

I've thought about owner financing as well....but i was wondering if there was a way to do both...if it's even legal?

Cap Rate: Looks respectful but some one here will brag it is not highCash Flow: + goodness directionI will check with Association looking at lawsuits, restrictions and income statement that show they will allow you to rent to others.

Verify it is Actually subdivided, Legally, already, as opposed to being just proposed.

We've done 1 so far with a buyer we know locally, however I'm not sure how to legally move all these properties in an efficient manner. 

Not to mention you would likely need to work as a licensed Real Estate Agent for several years before you are legally allowed to open your own brokerage and offer Property Management to 3rd parties.