I've also got another project in Paradise Valley I'd like to button up this summer. 

Never knew getting money could be so stressful!  

@Steve Barrett Good Lord where is the edit button?

I get how it could be stressful with student loans holding you back from your passion.

What if you have 100 doors but you're running yourself into the dirt, impacting your health from the stress, can't spend time with wife or kids, and only making $50,000 a year?

Don't waste any time stressing over what the tenant may do.

I live in Seattle, so rehabbing in this area is too stressful.

Go to the max without triggering an IRS audit for starters.When working with the other tenant, I would also state , " the owner is a pretty cool , but i need to watch every dollar keep the property looking great.".Or  " The owner is a pretty tight with money but wants to keep the property looking great and well maintained".Both those statements take a lot of stress off of you and put on the owner!!!!

Don’t forget about the FHA Self Sufficiency (aka Stress Test) for 3-4 unit properties.

Again on the plus side, it could be a cool learning opportunity for your kids to learn what house-hacking is all about and to take the stress off you to make your mortgage and other housing related payments.