My wife, one month old daughter, and I will be living in the main unit as our primary residence.Has anyone had this done and had objective results?

No system is perfect, so don't waste your time chasing after the next shiny object.

(why because if you plan to flip the house and I can’t tell you how many times I know in the agent community that a deal was killed because of unruly neighbors or their possessions rather than the house itself)Always be kind, Ask open ended questions for while building value in yourself, and uncovering objections

Yes, everyone has different objectives on how they invest.

(If that is your objective)

You can research more about velocity banking and how it works, but my assessment is 1) it is a lot of effort for a minimal benefit (you can accomplish similar objectives using other principal paydown methods with less brain damage) 2) it likely no longer works effectively with today's interest rate environment because of the spread between HELOC rates and fixed primary residence rates. 

I'm much more objective about my investments, but a personal home has to "feel" like home.

@Brian Weber have you clearly defined your objective and criteria?

Always have a reserve because some surprise expense pops up with almost every property I purchase.The reason most Landlords fail is poor screening, no understanding of the law, and no policies or procedures in place to deal with problems swiftly, objectively, and in a business-like manner.

For a buy and hold your main objective is finding something in a desirable neighborhood and an area that is up and coming.