Saying that many people do deals this way may be true, but it doesn't mean it's the best course of action or most risk averse for someone who it sounds like is still learning the process and doesn't have the basic structure yet figured out.

Hope you find someone who will work with you and make all your financing dreams come true!

True enough Steve.  

The fact that your neighbors are actively using the road for parking access means there may not be much you can do about it, but might be worth a conversation with the city regarding true ownership as, if it is still your property with no easement, you still may be able to fence it in.     

@Theresa Harris that's true!

Most of the cities are getting pretty good at closing loopholes though so don't plan on doing it as a true duplex. 

Then what is the true NOI?

The service called Pay Near Me that allows tenants to pay cash, credit card, or check at any CVS or Casey's gas station.

If you insure your property based on market value and not the true replacement cost (in most situations) you will get penalized by your insurance company for not "insuring it to value" properly.There are ways to get around this but it's best to insure your property to (the proper) value!

If it seems to be good to be true, IT IS.If you don't have intuition (it's a personality type, not a learnable skill) then seek the advice of someone who has it.