I really want to secure a financial future for my family and see real estate as the best way to do that.

There would be no reason for me to move into the 4-plex unless I legally had to, to secure the FHA loan.Second question, If I do legally have to live there, How long after living there can I move out so that I can generate extra cash flow off of the 4th unit?

If keys are missing their security deposit is charged.

They also like having time and security of knowing they have a buyer.

Sure we can give your our coin(s) on the matter but its best to make the final decision after securing professional input of all of the pros and cons for various types of entity structuring and the likes of in whichever State(as laws and costs vary by State)and so forth....Kudos,Mary 

While the first spouse receives the deduction, the second spouse then claims that income on -  Schedule C - and pays self employment tax.It's the exact same result, but you've at least transferred some Social Security/Medicare over to the second spouse for retirement purposes down the road, so that's good.If you're looking to figure this out for being a landlord, then you just put everything on one Schedule E for property you own jointly.  

I have contacted a mortgage broker about helping me secure this loan.

So that's what initially drew me towards the topic but I think for myself, the overall end game I am looking for is a means of financial security.

How much weight/consideration should go into it when making a purchase.

The harder the list is to come by the better your chances of securing a deal.