Based on that alone I fail to see this as a good deal initially.

So here is my question, if I land a job in the Midwest that pays well and I could pay the mortgage even without renting the other side out, I would fail to qualify for the loan.

You try stuff and if it fails (and aren't wiped out), you learn from your mistakes and try something different.Now the question becomes the best ways for me to increase my passive incomes to create this income stream I need (the wellsprings of cash that outrun my growing expenses [healthcare in old age] and inflation).

If the building is brick bring a good mason who can point out possible pointing issues, pushing walls, failed lintels, etc.If you have a flat roof or even a normal roof have a good roofer check it out. 

It's going to define how the owner/tenant relationship flourishes or fails. 

You can put a deal right in front of them and they still think it's going to fail or think getting rentals is headaches.

It's a business model for thousands of small-time property managers the gurus always fail to mention when they hype the benefits of running rental properties far from home.

Hi Everyone, I was about to put my first home under contract today went and viewed the place. I took pictures and everything for potential Rehabbers, but the price we had previously agreed was a little steeper after l...

Blue Sky failed and closed within several months but that is his failure.

Bathrooms and kitchen were in rough shape and we had to replace the cabinets in the kitchen.Back patio was a failed attempt at something, not sure what though.Everything else was pretty standard.What was done:Painted house inside and out.Replaced flooring with new laminate, tile and carpet.