The issue is, I'm not sure if my income will be enough to cover 2x the monthly mortgage payment that most loans require.

I’m going to share some of my thoughts when I talk to new investors;Are you pre approved, and for how much? 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I have a buddy that has been doing flips for a few years and he now has investors approach him asking to get in on his flips so he lets them cover the down payment/entry fee's for 30% return on their money.

Are you aware of city of San Diego rules regarding converting existing legal space to ADUs?  

Can't do any of the things they promise in the pre approval. 

we have several properties now in McHenry County now, and we are looking desperately for an attorney that covers that area.

We don't cover that area, but know that due to lower population density, finding a great PMC is difficult. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Also, are you doing separate loans, or one loan covering both properties?