Then tenant rented from my father for years.

When construction is complete it will be an 18 unit (some rooms with shared bathroom, some full apartments).Instead of dealing with 18 separate tenants, we have decided to rent to one operator - sober home, group home etc. 

Based on the most recent data, it seems like inflation is not as high or pervasive as previously feared.

By putting 10% down I probably will be less than breaking even every month ((like an extra $800-900 per month at very low/conservative rent prices)  with the building fully tenanted (as is condition not counting value add with renovations). 

3) What if one of the applicants applied very late but offered 200 or 300 dollars more monthly for rent and requested that his application be approved?

I recently got this house for 47k  and am looking at getting it cleaned out and rehabbed to rent.

I'm looking at other markets because the purchase to rent ratio in Las Vegas isn't the best, and I believe I could yield a much higher return and scale elsewhere. 

It is just using an FHA loan to get a multi unit home, live in it for 1 year and then move out to receive full rent with only putting down 3.5%

We manage several hundred multifamily units in and around Columbus, and have tried every different way to bill water - included in rent, split among tenants, and sub-metered.

. - A dramatic increase in the supply of folks needing a place to live usually results in increasing home prices and increased rents.