Lack of down payment, lack of entrepreneurial personality, low tolerance for risk, looking for the magic key that fits their desires, just want to learn, sold "Castles in the sky" with a gibberish of disconnected statements that while true in a plethora of instances do not add up to truth in any one instance, fear of failure meaning not able to take a financial loss without going into poverty, never told up front how much money they will need to spend to buy the investment in addition to paying for the class.

In addition to submitting your documentation I'd get a plumber to state in writing that the windows being left open is what caused the pipes to freeze.

It's like when you're running a business - you sometimes learn way more from dissatisfied customers and their complaints, so, please, don't stop there, if you have more to add, add it!

Creating a catalogue of info and answers for the general benefit of those in the future in addition to the poster.

You may borrow an additional $35000 for hard cost improvements.

I wouldn't suggest you buy a single-family home to live in because the additional cost outweighs the benefits.

In addition to what other said, because some landlords don't increase their rents every year.

In addition, the PM is running a business and insurance (GL and WC) costs money. 

(Call it 20% federal and 5% state ($15k in income tax, plus the $45k in additional taxes you created.).

Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment.