The goal is to keep the tenant in the unit for 24 months; if this is achieved we are successful at finding good tenants and managing them.

With that mindset, I believe you can achieve great things. 

What are you really looking to achieve by doing this?

Are those ROI #s actually consistently achievable assuming good tenant screening? 

Simply put it is a SELLERS MARKET, so these old dusty strategies from a buyers market only achieve on annoying quality agents to point of dropping you, and signaling to a listing agent your a clueless buyer to not waste much time in engaging with counter-offers.

Hey James, Another way to look at would be rather than adjusting your criteria to match current market realities, adjusting your approach to deal flow in order to achieve your stated goals.

I am only a few years into the investment game and looking to hear from other investors if this makes sense or if theres a better approach to what I want to achieve (ultimately owning more properties).

I think the name of the game in this case is avoiding tax "events", which a refi, cash-out refi, and HELOC would achieve for you.You can keep the home in Grandmom's name, assuming she has good credit and a worthy financial history that would allow you to achieve this.

I have learned that the biggest reason people do not achieve their goals is one word 'Action'... 

I liked the idea of house hacking a multi-family but with young children I’d rather not have to move them after a year, so looking for other options to achieve a permanent home and an investment property in the next 2-3 years.