Low valued SFHs can cash flow, higher value homes can not.Purpose built properties, such as multi plex units are built and designed explicitly for the use as rentals and are priced accordingly (or should be).A personal home is not a investment, it is a life style choice that will ultimately cost more to the owner than it will ever be worth (except in certain areas like CA where no one understands the value of money). 

No gap funding no second lien position no exceptions otherwise you're interest rate is waaay too low.  

Hi- I am looking at a investment property that might be convertible into a 3-4 unit rental property, except the township requires that any additional dwelling requires 2 new parking spaces.So my question- does anyone have experience converting a large yard into a parking lot?  

Like @Jeff B. said, depreciation is a fixed deduction amount, except for probably the first and last years where you would probably use the mid-month convention.I set aside money for income taxes.  

Except one section... which would be determining what rent you would charge your tenants.

Real Estate is exceptionally expensive business to get into, but it can be very rewarding.

Our initial goal for the second unit was to convert this to a short term vacation rental, but now we are questioning this option.Is anyone familiar with this form, any possible exceptions, and/or legal implications?  

All units will be vacant when we purchase next month except one.

None of my deals are on MLS, except a few foreclosures I've purchased because I get daily report of all the new foreclosures added to MLS that fit my criteria.

Also see public records to obtain the starting mortgage, and the remaining balance, that will be the price the bank excepts.