He’s wondering if he should rent it out but he did purchase the home and live in for months and has an fha loan.

I paid for the subscription for a few months and drew my own custom Google maps areas and color coded them red/yellow/green based on a "grade" I felt came from a few metrics like crime/average household income/etcI also really like realtors dot com new maps, if you search for an address and click on the map and then go to the top left and choose the Value slider it will give you a nice color coded map of which areas of a neighborhood are higher valued.

The average rental is $1350 a month so you might be able to get someone in there at 1/2 price to manage the wedding venue.  

This is the equivalent of a car salesman pitching the "monthly payment" of a car instead of the actual price of the car.

If it's a flip, I'd look at the best flips in the closest mile radius sold in the last 6 months.

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

I am looking to purchase my first rental property here in the next month or 2.

Rates wouldn't go up over the last 3 months if you idiots wouldn't take 4 months to close a loan that you said would take 5 weeks.   

The original six month tenant I had extended the lease 9 times and stayed a total of 5 years, paying me about $15k over market rent annually.  

Double the cost of that house and double the rate to 7% and its like $4,000 per month for the EXACT SAME HOME.