To John's point, yes the curve ball with FHA is the self-sufficiency test. 

It doesn't pass the "smell" test.

Study the test questions at the end of each chapter. 

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

(hopefully it's better than that) Under this scenario, I would do your diligence on kind of a 'stress test' with regards to risk management. 

One is a 'stress test' or 'scenario analysis'.

If something doesn't pass the sniff test, dig deeper. 

Here’s the numbers:They were asking 85k, we got it for 80k, appraised for 90k listed for rent at 950 to test the market.

Whether the tenants and you get along is determined during the TESTING PHASE.

I put up a test Ad right after closing at $925 and received over 70 responses in 24 hours.