Quote from @Payne Roberts: I think you are on the right track.

Many folks talk about their tracking documents for keeping tracking of income and expenses. 

In the Museum District of Richmond Va I've found a multifamily (4 units) property on a good size lot for that area that has a back ally access with a good size back yard and no garage like most of the neighbors have.Please some one well versed in Commercial properties and multifamily tell me if I'm on the right track with this line of thinking..My approach is to buy the property using A conventional residential financing and build a garage with an upstairs apartment, making the grand total number of units on the property a fabulous Five.. which is infinitely more in the eyes of Lenders because a 5 unit property is considered a Commercial Space.

As the landlord you can then assign costs to reach maintenance ticket and if you have a clause that says "tenants are responsible for the first $50 of all maintenance request, its a great way to track it" 5.

Real estate syndication for the masses is an evolving business with a short track record. 

Track record is everything.As far as allocations...invest in what you know best.

So...This is usually what people say when they have no Kpi's, when there is zero tracking, when you are winging things (or they are doing all the tracking wrong).

The tenant was very grateful and I feel I could get her back on track with rent at least until the spring summer comes. 

Are there any resources you use to track or follow the current ZBA and permitting updates?

Closing thought make sure you track not only the interest on the new investment loans since this is deductible but also the new interest expense on the refi'ed home since this increase in interest rate is also tax deductible.