If I purchase and rehab a property for $60k and it appraises for $100k one would think I shouldn't have a problem obtaining a conventional loan on it or do I need financially qualify to cover each conventional loan regardless of the properties income stream?

My business (I'm self-employed) has gone under and I don't have an income stream right now.

In either case, their ability to deliver what they say, matters.Of the companies you are considering, I think it is very important that they deliver as promised, don't change the terms mid stream, and are clear in their requirements.

Yes I have seen section 8 be in a constant flux of change.If the tenants income increases then section 8 adjusts the voucher amount.Also here you can list in the lease that the tenant pays a certain amount of utilities and that is fine.Some section 8 areas they will pay 800 for a 2 bed but then all of a sudden readjust to start only paying 700 which is not market value.These section 8 tenants never make up the difference from what I have seen.So you accept the lower rent or evict them and get a regular tenant for 1,200 more a year in cash flow.I don't know with the election and many government programs in flux how stable section 8 is currently.Might be a bad decision to base many of your renters off of that income stream.

For me REI isn't about quitting my day job tomorrow (though I wouldn't mind that eventually), but to retire early with sufficient revenue streams to support an active lifestyle.

Define the annual returns you want and the degree of risk you are willing to take on.After many avenues of research if the return you want has too much risk for you then you need to adjust your returns expectations or increase your risk acceptance with your money.If the dynamic is specific to your area where you live you can look outside of that area (other cities,counties,states) to find properties or investment streams that match what you want.

How about some other wild & wacky ideas you have came up with to increase your income stream from the rental property??

You have 1.3%.Now you plan living in the Coach House (not sure what that is) but I'm sure that means you'll be losing one of you income streams.

Some of the agents will even carry their pro forma sheets out for 5-10 years to show you their speculation on what the income stream will look like at those points.

Here are the stats:I have total into the house $55kCurrent value is around $70-75kI owe about $20kMy PITI is $425/moCurrent rent paid $895/moI would obviously be making money off the sell but I am also giving up a stream of revenue if I can't find something else to buy should the option be exercised.