The calculator estimates that operating expenses are equal to 50% of the monthly income.  50% is a rough guide. 

And for the evidence, I would guess that they'll want to see some evidence of the income from the rental days.

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.

I'd suggest using a minimum of 25% of gross rent to cover expenses on paper until proven otherwise on any given property.Only you can decide how much cash flow is acceptable but I wouldn't consider something that essentially breaks even.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

I know of other softwares, like Baselane that handle income and expenses all in one place.

You can't sell your account.You can only sell SFR properties based on comps not rental income.

That would allow you to put down less knowing you have that income coming in.Otherwise, is it possible to consider moving somewhere more affordable so you can reach that financial freedom you want? 

The best way to connect and learn is to be in rooms where it's going down.In terms of captial your best bet is to focus on a primary income that cash flow sufficiently, saving as much as you can and doing something real estate related so you can get familiar with the industry.

I'm in the Wavemark income fund and am getting paid my distributions