If you go at it aggressively, in 10 years you could easily be done.

This is simplified by  discarding applications that are not easily assessed, time is money and applicants like this are not worth a landlords time.

@Richard Kolostian @Cat R. any licensed plumber should be able to install a water meter for you as long as the supply lines to each unit are separate and easily accessible.

It's a single family with attached business, which can be converted easily to a MF by turning it into a studio.  

The property will need to be deeded back to you personally, which can be done easily at the refinance closing. 

The SPD is required to be written in a language or format that is easily understood by participants.

I must remodel one apartment, cost $5,000 to $7,000. this apartment would easily rent for $450 to $500.

Give Quest IRA a call as they can walk you through this pretty easily.

As far as house hacking, my father built a small studio attached to the house some years ago that brings in $600/month,and I could easily rent out the house itself for $1,100/month having no mortgages I'm sure I could net a monthly cash flow of $1,200 if I did not live in the property.

They can easily disappear or be damaged before being installed.