Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

I also can take out a home equity line of credit on my current home....but I need direction. 

And when you said the management company takes a 550 credit score , all I see in your future are evictions .   

Section 8 vouchers pay up to fair market rent.

I own the property free and clear and i use the equity as part of my business line of credit.

Most everything else you mentioned has been fairly standard on my builds since the beginning.

That’s a level I’m fairly comfortable with but your level of comfort may be more or less.

Also no credit reporting, so I signed up for Landlord Credit Bureau at my expense.Hope this helps, for now I’ll be staying with Hemlane.

Hi Carlos, Tucson is a fairly inexpensive place to start house hacking compared to a lot of the west coast.

Then what happens is the lender reports your payment history to the credit bureaus and each time hereafter if you ask for another loan and the lender pulls your credit then they are going to see your payment history and whether you made your loan payments or not which will likely influence whether or not they lend you money.