That's unicorn status.The strategy is designed to offset a significant part of your housing expenses while building equity.Think of it this way, if it cash flowed with you living in it, the property would have an enormous cash flow which would be picked up by an investor at a premium.

Some files can take an enormous amount of time, and they don't always close. in the event the deal falls out, the broker walks away empty-handed despite the work/ time/ energy and effort put-in up until that point. 

Also, one thing that always goes unmentioned with evictions is the enormous amount of negative energy that you are bombarded with.

Which is not true their are many of us who self manage and we do great jobs and do not have an enormous amount of problems.Neighborhood isn't what I am speaking too.

I'm pretty excited about all the great people and resources that I'm discovering on Bigger Pockets.com  This industry and site seems to have an enormous amount of community and extremely knowledgeable professionals.  

You may want a staging room but a kitchen is not needed with its enormous costs.

This is an enormous material fact.

My wife and I are still digging out from an enormous amount of medical debt (totally worth it though!)

This is a mistake, a mistake that might cost you from being able to close on that particular loan type, and it could make you enormously liable to the Seller because you will have effectively destroyed their ability to sell the home to another Buyer for FHA financing.  

If the property is well worth the enormous cost of the money, it may deserve consideration, however, you can never predict where will you be financially in one year.