Monthly pre-tax income for household (minimum $5000)7.)

The article also fails to mention that overall transaction costs can actually be higher in countries where commissions are lower because the agent plays a different role, and due to needing to pay a lawyer for paperwork that agents complete here as part of their job (called a solicitor in Britain) plus VAT taxes and other closing costs need to factored in on top of the sales commissions, which we don't have here, overall costs can actually be higher even if commissions are lower. 

When I'm figuring out how to price an Airbnb I always cross-reference AirDNA or PriceLabs to get an estimate on what the income would be.

I doubt he'll be able to quality for a loan (VA) with just his income. 

Note: We do 50+ investment property loans a month and the most important thing I tell BUYERS of properties being sold as or soon to be STR is make sure you are paying the market price per square foot and do NOT buy based on income approach/CAP rate.

There are also some tax advantages to self-managing. 

And now after a year, the utilities are eating up my income.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Does the operational company already exist and have income history?