Interest rates will not be low.

My gross income is a bit less than $7k (and I'm renting near top of market rates) with minimal repairs ($2k/y), but...1.

Who cares about lifetime interest costs, except to the extent you can easily lower them (refinance to a lower interest rate) to increase your cashflow.

There is so much that goes in a business, rental rates, rental tax, inventory,  job costing, payroll, business analytic reports etc, QiuickBooks does handle what I have mentioned here. 

**Maintenance**: Be prepared for a bit more wear and tear compared to market-rate rentals.

And the values like all rentals will just track the rental rates and what an investor is willing to pay for a return.

You will owe monthly payments until you fix the property up, rent it out, and refinance to a more traditional 30 year fixed rate product. 

Brandon Turner's Rental Property Investing book is an excellent primer to understanding the happy path for purchasing a property - however in this market it really comes down to having bulletproof assumptions on rents/taxes/R&M/etc. as with rates as high as they are/inventory as low as it is, there is less cushion in your returns if you analyze properties with bad assumptions.

(Maybe the seller has a great interest rate, but you would have to pay twice that amount which wouldn't be profitable.)11) Crime in the neighborhood. 12) High turnover in tenants (raising your expenses.)

FHA rates are actually lower than conventional right now even though there is a monthly mortgage insurance it’s not much in most cases.