Bonus - Going back to my 1st point, I think you may have a hard time finding cash flowing 1 family homes here in Northern NJ due to the high taxes.There are several other benefits but I don't want bore anyone ;) - Although as you mentioned in some cases single family renters may be a bit more caring for the property, this is not always promised.

OT and bonus income has different guidelines to count the income 

You also wouldn't be able to benefit from things like bonus depreciation. 

Some know they can rent quick and for more so they are ok with collecting the security as bonus.

I am unmarried, very frugal (only spend on investing, necessities/essentials, and travel), and I recently bought a house worth approx $320,000 at a 5% interest rate (with $5k in equity already) - I used an FHA loan as I plan to live there for a year, refinance into conventional, and then move on to my next investment.For my next investment, I am unsure of which is wisest considering the following: I currently owe $85k on student loans, my salary is $85k/year (not including EOY bonus), I have approximately $52k invested (stocks, index funds and CD's), no credit card debt, and no car debt.

You can take all of that depreciation over the shorter lives, or even take it all up front in the first year with 100% bonus depreciation.What you said:He also stated that whatever funds I received from the accelerated depreciation, I would have to pay only remaining years of the depreciation if I ever sold the property. 

Schools is a huge bonus, not a necessity.5.

Depending on the area, you may also see an immediate equity bonus at close which you can leverage in the near future. 

Purchase price: $241,000 Cash invested: $72,000 This is a 1900sqft, 3bd/2bth with bonus room for office/kids play room.

Here has been my experience:Having a down payment, closing costs, and reserves (in my case ~$40k) are bonus points for when applying to lenders!