Is two properties free and clear generating enough cash flow for you? 

I was told that, since they reported my income in box 3 (instead of 14- for payments to attorneys) I have to pay Self Employment Tax (SET) in the U.S.- Is this correct? 

So your "friend" with 5 other properties on the street is willing to basically give you a property that generates cash flow each month...?

There is also an ordinance in place that prevents termination of tenancy for owner occupancy purposes until 60 days after the state of emergency has lifted, which is expected to be cleared within the year and would just need to work around this as well).Once this is accomplished, you can then decide if its better to let it sit as is and generate its own appreciation and rent increases, or exchange the profit into something larger. 

You review the lease and run checks (eviction checks) while reviewing their employment and we "grade" the tenant.

What are the numbers that generated the CoC and the IRR?...

Im not a CPA but lived abroad long enough to have generated 300 page tax returns (that is not an exaggeration, one year my tax return was really 300 pages long).

I feel it extremely difficult to have positive cashflow when RTV is lower. I searched through zillow for several promising places like Tulsa OK, Indianapolis IN and Memphis TN, the best RTV I can find is around 0.75% ...

A lot of employers and apartments won't give info to you over the phone so have a form you can email them with basic questions like did they pay their rent on time?

I was looking for a property which can generate steady income.