I understand most lenders will only lend with a traditional residential mortgage for up to 4 units only.

A single family rental has a conventional 30 year mortgage and usually a lower cash flow and traditionally costs less than its multi family counter part.

While Dave Ramsey is proud of them it affects their credit in a negative light. 

We have central heating, lighting for common areas for a multistory building, and found out gas and electric faced a cutoff as the HOA is months behind in paying bills.

@Billy ChuI'm not sure about a $100 foundation inspection cost, that seems quite light as noted by @Jose Campos.

I bought a well maintained building in February that has had little maintenance since then other than a flickering light.

I see the lines between extended stay rentals ("LONG" short term rentals) blurring with traditional rentals.

If you're doing a traditional long-term SFH, then I think 20% down would be best as that PMI will impact your cash-flow.  

@Reyna LopezNo, you won't qualify for traditional conventional financing if you switch from W2 to 1099 (although some alternative lenders have embraced the new CFPB guidelines that don't require income verification).Your best bet, if you are making the money you hope, is to get an asset based DSCR loan.  

Hi BP team,I’ve been trolling the forum for years and just closed on my first rental property in Philly, a triplex.Close date was 4/15 and no lie, the last 45 days have aged me with stress and anxiety(I’m 27).I purchased just outside a college area, not really a prime location/there is a new property being built right next door, which started the week I closed and development on my block.Long term, maybe my home value increases w the development — BUT it literally killed the lighting/views in a couple units which is making tenant finding harder (plus construction noise) and I kind of already knew my challenge would be in placing tenants.