For example, we need proof of renters insurance and proof they put electricity in their name.So, it seems odd that you are accepted but they keep wanting more information. 

My monthly payments (mortgage, insurance, taxes) are roughly $3,600, leaving me netting about $4,600/month.I have four years left until military retirement, after which I’ll have a pension, some disability income, and rental income from this property.

Insurance companies are always looking for MTR that are furnished like ours  never stays vacant more than a week.

You'll want the rents to at least cover the monthly principal, interest, taxes and insurance (and HOA if there is one).

Taxes and insurance will be another $400+.

The moral of this story is to have good home owners insurance!

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

You should allow a 1-2 Weeks for the appraisal, and 1-2 weeks for title and insurance.

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.