You need two years of steady income before you can qualify for a loan.

Oh....you can also pay off the mortgage even faster with your ample income or soon to be ample income.  3-5 year payoff time is definitely possible. 

That should cover 2 rental income periods, returning $660 to your pocket.

No personal income or tax returns are required.

After that's under control, focus on increasing income through additional work at your current job, taking on a side hustle, or finding ways to increase income on your existing rental.At the same time, educate yourself.

I would not offer furnished rentals in lower income areas. 

Lenders will want to know if the property is generating income and if it qualifies for a DSCR loan or traditional financing.

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

After five years you'll have earned $90,000 in rent income and gained $34,000 in appreciation.Buy four houses with $50,000 down on each.

@Ofir R.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?