I’m considering it more and more but I feel I should stick with the area I’m familiar with and play it safe for my first rental.

Would like the subsequent to be 20 some units. way to step it up great work, I'd encourage you to look at single plots of land and one large tract of land and one multifamily or mixed use that has 20 housing units. without plats and engineering if you are really feeling it go for midrise over 5 stories wait till you see how much you can make! 

Fingers crossed in 7 years I have not had to test my coverage, but in the area of my rentals a golf cart is expected with the rental.When they crash into someone else, did that person sign the waiver too ?

Note ADU addition in a MF zoned area may be comped with a duplex but I personally think this is wrong as a SFH with ADU is not a duplex.- it is cheaper to buy a property with an existing ADU than adding one   In addition you would receive RE purchase financing.  

What happens if one of you decides to buy a personal home and need the credit to qualify for a new loan so needs to sell this one to make it happen, but the other partner not ready to sell yet, or doesn't want the capital gains. 

I would not recommend buying any property you wouldn’t feel comfortable living in.

The total cost of project is more than we can qualify for based on personal income, although our W2 income and credit score all work in our favor.

He got the owners Lucy and Charles Petri of Omega Realty to buy this house without ever seeing it in person and they still havent seen it to this day. 

I look at the whole person.

Currently, they are financed under my personal name.