Expenses are going to vary based on the unit size and configuration, how many people are staying there and what their usage of the property is.

If you play it smart and invest in a "Primary Home" first by targeting a Multifamily 2-4 unit home.

I have a client interested in a property with 11 units, and he's looking for a commercial loan.

I have a 12 unit building that I'm in talks with seller on.

I am a huge supporter of Market Leader (used to manage accounts for 40,000+ agents across the United States) and have seen many agents have great success with their leads program, but it is expensive.  

We hired contractors to construct the basement unit and turned 300 square feet of unusable space to a $1,000/month of rental income.

U want your parents to talk to their CPA FIRST.. if they go the development route they are now ( depending on the amount of units) creating inventory.. which will be taxed at ordinary income rates ( very HIGH)if they just sell they can 1031  and move on to something else.. many times when you run the math consider the risks of a partnership.. the sale of the land is far better than thinking your going to make some profit.. 

I cross-list my MTR units on Furnished Finder and Airbnb.

Electric heaters for apartment units.

Total ARV rent for 3 units is $2500?