The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage. 

I wouldn't worry about the $1000 payment.

The longer term loans would have lowered your monthly payments and decreased the costs.As for rent, each year you need to look at rents in the area to decide how much you will be increasing the rent by. 

One has a 162k mortgage, $1250 tax,Insurance,%3.5 30 yr, worth at least 750,000 LTR rent $3200, #2- Los Angeles worth   $750k as well just did a remodel of 150 K, mortgage is 75,000 payment $700.tax,Ins, Mtr/str hybrid.

The amount of cash flow on a home will of course be contingent on the down payment.

@Robert StephensonIf you have enough equity in your primary or rental you can get a HELOC or HELOAN and use the proceeds as a down payment to buy another rental.

Marketing to find what is a deal, $$ to fund that many deals along with utilities, mortgage payments, taxes, cost overruns, etc.

Now to the bad news: it is REALLY hard to be a 20yo real estate agent and make a living wage, let alone generate cash for a down payment.

I've seen a situation two years ago where a new landlord had trouble evicting a tenant who was constantly late on payments because the tenant argued that the late payment terms in the lease had not been honored since the start of the lease and couldnt be suddenly enforced because of this. 

Together, we have over $200K (mostly in stock market investments), and our parents may help with the down payment.