You mean that once the 15k in invested you would generate another source of expenses ( via depreciation).

It has been the best source of good multi family specific information that I have found. 

The biggest downside that I am seeing is the adjustable rate....

My main concern is lawsuits due to accidents because of this associated water source.

As an added benefit—as you tour deals you are building relationships with the brokers and building that trust that gets them to recommend you as a buyer to their sellers.If touring the properties is too much workload or travel for you, get a partner and make that their role; while your role is sourcing deals, underwriting financials, and making offers.

What data source are you using for determining rental comps?

In general just knowing what the prices in your area is the biggest  factor. 

Received a $1M offer on a 16 unit building that I purchased back in March - leaving me with a nice profit.However, I am expecting 30% in short term capital gains between the state and federal and a prepayment penalty of $6000.00.Thus, unless I can 1031 into another deal...this transaction may be tough to put together.Any ideas on how I should source deals and find a way to defer my taxes?

To me, life has always been about doing something that I truly enjoy, while trying to set myself up for long term financial freedom by creating multiple sources of passive income.

The biggest issue is making sure you are following local codes and laws.