If you've done this type of agreement, please let me know if anything came up that you wish you had known at the beginning of the agreement.2.

The types of program would depend on the type of property.

Break out single family/condo; then 2 units then 3-4 units all have different rules. 1-2 units is far easier to get approved verses 3-4 which have extra conditions to ensure that the whole project cash flows with market rents minus the one owner occupied unit. 3-4 units you need much larger down payment - as in no 3.5% downSecond home programs are for one unit types: SFR/condo/townhouse.Owner occupied means you live there and your insurance policy matches.

what type of properties?

Think about the type of brick you have, as some are more porous than others.

What made you interested in investing in this type of deal?

Basically instead of the flat bottom of a vinyl product you have a rubber waffle underneath and an interlocking zipper type connection.

Philadelphia passed legilslation last year that severely limits the type of operations you are describing.

Thanks everyone  You will want to speak to an attorney familiar with securities laws as it appears you are providing financial advise and would need to get some type of FINRA license 

A lot of times, these types of lifestyle choices will start limiting you down very quickly to specific areas, and since you are going to be living in the property, are likely to have a heavy weight on the neighborhoods.