It just came out this month and will hit every question you have about that in my opinion.

I would also deduct 1/24th rent for Realtor renting.  1 month every 2 years.  

But as of today, I am strongly considering converting it into a single-family rental because based on some Zillow comps I’ve seen I could get upwards of $8000.00 per month which is more than double my mortgage, taxes and operating expenses.

Typically with houses of this age - you'll need structural folks to dig and install piers into the soil.

Those properties are currently cash flowing $3,815 per month but if they were paid off they would generate $6785.58 per month. 

Quote from @Andrew Lawlor: I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months.

In either case, the longer a property remains on the market, the more motivated the seller often becomes to offload it.Savvy buyers understand this and often target properties that have been listed for three months or more.

Remember HML have a countdown clock and are only good for usually 12 months.

Lets you see if your amazing loan officer was a barista just 6 months ago  ;)Last, consider working with a broker instead of a small lender.

If your loan is $110K then the payment on the 15 year would be $927/month at 6.15%; 30 year option at 6.625% would be $690.