For example if the as is and after repair value are acceptable but market rents are not then you do not have an acceptable rental property.The metrics that I use are the 70% rule (in this case the rehab costs plus the costs to pay back taxes and any other fees should be equal or less than 70%) This means if the cost of the project is greater than 70% of the after rehab value, I would reconsider doing the project.

Smart move @Corie Carpentier.To be honest, being under contract is not the time to reconsider a deal due to numbers.

But this experience really make me to re-consider if I would accept any section 8 application again in the future.

Especially if you don't need the cash from the rental to eat, I'd reconsider selling. 

Technically our intent when we agreed to the loan was to live there long term, but once we found out home much we could get in rent we have started to reconsider our goals.Does anyone have any experience with this?

Could not raising rent because you want to be a liked or "good" landlord or you want to keep tenants be bad for your good tenants in the long run?  How about collecting close to market and using some towards "bonus" u...

I debated this on my last turn after I heard this but feel numbers don't lie but may reconsider in the future, I would just have to charge enough to make it worth my time.  

If your business model depends on whether or not the enforcing authority has the resources and political resolve to pursue and catch you, there is a chance you should be reconsidering your business model.The fact that you are questioning the moral implications of this pursuit is a good indication of your integrity.

I don't want to spend the money to refinance, but may reconsider because I could technically pull a little cash out and potentially drop the payment due to dropping off the PMI. 

@Ashish Acharya I am capable of learning anything and do not need a bookkeeper for only four properties - I will reconsider as I grow larger.