Quote from @Thomas McPherson: Watch for UBIT tax some income types can trigger it.I had a long conversation with an attorney that sets up SDIRAs.  

I finally got word of an approved application. 

The fastest way back is getting a full time job or acquire rental properties/units/apt's since rental income can be used instantly (75% of gross - PITIA monthly payment = net rental Income asap/instantly).All other forms of full doc income receipt of the income to utilize it on a loan application like alimony (needs 3-6 months of receipt + 36 months of continuation).

Watch out for older homes with 'upgrades' because many might not be as good as you think.

I've watched a few on it.

Do you have experience with renovations at all, like watching others?

After this tenant leaves, you must clean/repair, market, screen applicants, select an applicant, collect the deposit and rent, get them moved in, etc.

See who they would recommend for lenders and make sure to get a preapproval letter back to them so they know you're serious - takes about 20 mins to do an application - can take the agent about 2 hours to have to show you a place with their time.

You have to run the numbers, watch out for saturation and unfavorable rules.

We use Buildium to review applications, sign leases, etc.