Net revenue of Lease life if you do not sell(Total revenue - Cost): -$4,000.This example is extremely basic and assumes a TON as I don't have sufficient information.

They require you to purchase a package of a minimum # of searches per month, but depending on how much you are lending out it might make sense to subscribe even if you only will use just a small part of that quantity over the course of a year.The data they have on everyone is insanely detailed - way, way beyond a simple background and credit check like we run on tenants.

@Michael Ealy It all depends I phoned my property 15 years not nearly as much as what it was in the beginning I can have half the stuff delivered to my property I have known my handy man for just as long the tenants have been in the property for over 10 years it becomes more self sufficient as you go with the majority of the time and left

I would be assuming here that there is already sufficient parking for both. 

One thing to keep in mind with FHA, is the self sufficiency rule.

Do you think it’s sufficient to ask for a work visa, a copy of his passport, 3 pay stubs, and a few references?

For now I'm going to handwrite them but I intend to hire out a service as the quantity of leads grow.

Let the rental be self-sufficient as much as you can.

Basically the house is self sufficient and to be smart about it, I could just start saving a $100-$200 a month toward the property for big ticket items that may need to be repaired in the future.Thanks for all of the input.

If the rents cover your costs and throw off sufficient free cash as well, then you should do fine regardless of what's happening in the macroeconomic sense.