Initially with the 3 rents it looks like it would be a go for me.

Looking ahead, once you secure a tenant, perhaps this is something that should be explored to make the next lease up easier.Also, @Caria Mitchell raised an interesting point in saying: We are experiencing a shortage of qualified applicants, I’ve noticed non-conventional applicants vs qualified applicants that don’t have a voucher or some form of subsidy. 

On the plus side now I will have a recorded Certificate of Occupancy with the city, as this property will be a long term hold for me most likely.

Mainly the Brokerage is for me just to sell the properties that we fix and flip and save the commission.

I’m wondering if that’s an option for me but I would like to know how you did it.  

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

And assets that provide you with great depreciation but not great income or stability are just a form of robbing from Peter to pay Paul.   

In Miami, we all know how people use rented cars, boats and houses to give themselves credibility.  5k for me is pocket change but I never like to spend money on a losing investment. 

They still all use standard HUD forms though l imagine.I'm curious is it federal,state or county legislation that creates changes between HAs?

This is the form any lender should use to calculate you income (ignore the branding, it is the same for every lender):   https://www.biggerpockets.com/forums/49/topics/1224525-fha-l...You will see what you can add back from your 1120 based on the % of your ownership.