Well this is what you refer to experts calling the "average" home.

This will allow you give a reference point on how much potential rent you can receive.

I personally do not agree with this but most PM's are not good salespeople and terrible business owners (in reference to managing profitability).

Is today's market and interest rates worth me utilizing an FHA loan for what some people have referred to as "house hacking" and beginning an investor path that way?

@Natan Gutt Guessing what you're referring to is either:1) Voucher is @ $1550, but once you deduct utilities (never include in rent!)

My questions refer to starting out with rental properties.

Happy to share references. 

@Lindsey PinkhamRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Are you referring to long term rentals when you said the gross rental yield is around 6-8%? 

Either way you will get a K-1 issued.For the tax issue please refer to CPA...but, my experience is that the passive losses will only offset passive gains.