It's kind of like comparing apples to oranges, each loan is different depending on the terms, what matters is what works best for you.

The actual management of the property does not take up a significant amount of time (depending on the quality of tenant and property- I would suggest both being good to great) but leasing the property does take special skills that are better "contracted out."

If you've owned your home longer than two years and are paying mortgage insurance, it may be a good time to either refi out of mortgage insurance or, depending on the type of loan you have, call your loan servicer and ask that it be removed.

But unfortunately (or fortunately, depends on how you look at it) my old age and wisdom kicked in and going to jail and lossing my family is not worth a rent house.So basically I think we broke every rule of being a land lord possible.

If you're a prospective buyer of a multi-family unit, here's another tip you might find useful when you're kicking the tires on a prospective property.Don't just look at the currently occupancy, check the eviction filings for that property address (it is probably public record at the courthouse - depending on where you're located). 

2) 2% for repairs seem low for a 4-unit. 3) 2% for vacancy seems low as well. 4) i would go 10%-15% overall for a vacancy and repairs budget. dependent on area and tenant base.

@Brock Smith Depending on where you live in NE, the water company will give property owner notice if the tenant is behind, just like @Josh Nix said above.

Or does it just depend on the condition  of the homes?

Varies greatly depending on level of materials and finishes but here in my area it's roughly $150/sqft.

More than likely, a municipality will provide a grant for down payment depending on your income if you're a first time homebuyer.