And your gambling a LOT of $ on trying something out, via purchasing a property to try the waters.     

I would take the gamble that rates will fall on their own over the next 3 years and live with the result. 

In some cases, gross income can include recurring capital gains or unrealized income, winnings from a day of gambling, rental income, and sometimes even interest earned on retirement accounts.

I've been trying to find a definitive ruling on the subject for MD, but it seems there are just general usury guidelines that a landlord SHOULD follow.

Most who gamble to such do not. 

The seller can contribute to closing costs in the form of a seller concession, but it must be done within the lender's guidelines, typically capped at a certain percentage of the purchase price.

Hey David, here are some guidelines I tell my clients to follow:1.

However, check if it meets IRS guidelines for repair deductions or safe harbor limits.

The benefit of going conventional is being able to purchase an MFH without the stringent property guidelines, self sufficiency test, and longer escrow on an FHA loan. 

Additionally, they should be able to clarify how FHA guidelines apply in this specific scenario.