I've been able to afford my payments so far without much issue.

I am getting to the point of wanting to back out due to the 27k combined Closing costs, not including down payment. seems like a I should look into finding a new loan officer.

Depending on why you are evicting the tenant, Illinois has 3 different notice periods: Five Day Notice of Eviction The Five Day notice is only used for non-payment of rent.

In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.

This likely means fewer issues with payments and property upkeep. 

Some people make 4x the rent but squander their income on eating out, drinking, car payments, etc.

I’m currently looking into the best ways to structure guest payment flows to ensure legal compliance (that may restrict non-licensed property managers from collecting rent directly) and seamless operations.

I feel like having such a low payment and rate make it stupid to choose selling the house, but since I haven't been in this position before, I thought I'd ask here.

I again state the problem is with the underwriting.  8.5% vacancy, pm 15%, 25% turn over (using my reduced numbers) or 37.5% using your actual, my minimum maint/cap ex would be 50%, prop tax, insurance, missed payment (seeing my vacancy only included the one month turn over), P&I?

Apologies if I missed prior posts asking the same thingI want to take advantage of the low down payment requirement however need to find a lender supporting this loan type.Can you please provide any recommended lenders for Homestyle loans (or even 203k) that serve DFW?