My path to 4K gross rental income

[Steven King]

I'll try to keep it as detailed and short as possible if that's possible. My plan is to house hack for the next 4 years taking advantage of the FHA loan benefits. Right now I have a 700 credit score and should be able to get it a little higher by March. I plan to buy a multifamily/duplex property next year and renovate then rent out my current home(townhouse)(rent 900/previously rented 1200 section8). I have a equity line of credit(5.2interest rate) of 34 against my house no mortgage. I estimate it would take around 10-15k to fully renovate my home. With a full rehab plumbing electrical appliances etc the house next to mine sold for 120. I don't want to hurt my credit score checking for different loans. But I wanted to get a cash out refinance with a lower interest rate pay off my line of credit and have funds for the renovation. My credit score was a 650 when I first got the line of credit. After the first duplex I plan to yearly house hack duplexes and between that time use portfolio loans to buy 40-60k rent ready rentals(rent for 800-950)(in Baltimore it's possible). All the rental income for the first 5-7 years will go toward the mortgages esp any balloon payment portfolio loans. I make around 70k a year do y'all think this would work?

SN: a friend owns a 4 bedroom single family she uses as a assisted living and suggest that I either  turn my 3 bedroom home into a group home or assisted living to reach my goal faster. If I were to do either of these things I would have her manage it. I’ve read group homes average 75-100k a year per child placement