Youtube search "car sales four square technique." 

My goal would be to bring in enough rental income to offset the expenses so that I can reduce my housing expenses as close to zero as possible.I've seen some scattered info on the web that deducting taxes from owner-occupied rentals is a bit different (square footage versus # bedrooms rented out versus pro-rata, etc).

No Aaron, it's a main floor roughly 1500 square feet that's been divided using a hallway with doors on each side totaling 6 separate offices. 

This property is about 3400 square foot of land and zoned R3 (thinking strong potential for future to build additional units). 

Immanuel Sibero thank you for explaining this from a different perspective, looking at the whole picture of the analysis and then picking out the red flags that appear is a great way to determine if the deal is feasible or not.

The old growth trees which appear to be impinging on the house could be viewed as a negative in terms of potential damage to the house in a wind storm and to the foundation / basement over time.How does this house's square footage stack up against the comp.'

Here are general details:-1st floor needs to accommodate approximate 55 parking stall for the 36 units-Parking will take up around 20,000sf of space-The remaining square footage of about 4,000sf can house elevator lobby, stairs, trash, electrical transform, commercial space etc.-36 allowed units at 850sf average size require about 30,000sf of building. adding the circulation and non-residential square footage pushes this number up to a total building of about 40,000sf.

I paid between $6-$9 per square foot for the last 4 houses I bought. 

So I kicked the habit - I stopped going to seminars and started to apply some of those ideas that were preached by speakers who were experts at extracting fees from me.I started to attend real estate auctions, studying the process - watching others make a lot of money - I decided to get a credit line - increase my credit card limits and started looking for properties (cheap- ugly buildings) in the neighborhood where real estate auctions were taking place - my primary goal at this time was to learn the market in the area where I wanted to control real estate - I would look at 50-60 houses (but made no offers - when agents would try to qualify me I just said "I have a small inheritance and will not need financing) - I kept a journal of the price per square foot,  comparing properties, and all comments made by sellers and agents (this helped me to find the seller dominate selling motive),  that was helpful - but I soon discovered that I was just looking for real estate in the conventional way  - I needed to do something else - so I started to look for owners of real estate who had problems (I applied Power Prospecting formulas) and at the same time studying creative real estate techniques from the old masters in the industry - became a member of the Washington Real Estate Exchange, hosted a real estate investor club and started to give mini creative financing seminars  while networking with those I wanted to emulate. 

This was a 850 square foot house and I'm glad it wasn't any bigger.