I am an investor myself, so I have a unique perspective about structuring, terms, and especially looking ahead at properties #2,3,4 to set you up for future success.

I look up for school, crime, and amenities, focusing on the convenience in the perspective of the renter.

So from a legal and tax perspective, how does a monthly or annual pay out work?

Metering the units separately doesn't seem to make sense from a cost perspective (unless someone reading this has had success submetering a basement unit?).  

It's important, not from the perspective of "What if my friends don't pay?"

@Mark Fries That's what's up I like that perspective as well

Quick question, from a renters perspective knowing that it varies what would be most important the square footage or the appearance?

From a risk management perspective, is it the same risk, to my home, to have a mortgage on an investment property, with a down payment I saved cash for or to pull the same down payment out on a heloc?

From the owners perspective I wish I would have studied the laws a little more closely and would have avoided being shutdown.

More importantly, if you have a suggestion on how you would handle a similar situation please let me know so I can see this from some different perspectives.