After 1-2 weeks they told me the tenants stopped paying rent after the first month.

With my two local properties bringing in about $1,200/month, I'm in the growing phase. 

Same property manager staying involved (did $56k last 12 months).  

Long story short, I felt I wasted money, and gave up on the course entirely a month after purchasing.

However, most people wait at least 6-12 months just in case the IRS doesn't question it.

In order to past this SS test, your appraised market gross rental income at 75% has to be more/equal to your monthly mortgage payment (PITIA).

I had one were we did not get to it for a while 6 months or so it was just boarded up.. when i went to sell it wholesalers were going through it said it smelled bad.. one of them finally went down to the basement and found a corpse that had been for quite a while. scared the heck out of him..

In most cases I have to pay out of pocket every month because rents are not high enough or the property is too expensive.

At a very minimum you'd be looking at 12 months -- more likely 18-24 months. 

Your development deal will look much like a flip in the eyes of the IRS since it is 6-9 months as well you'll have the short-term side of taxes, not the capital gains taxing on it.