I would not offer furnished rentals in lower income areas. 

However, with a SFH you will lower your standards when vacancy arises more than one month as you have no income coming in to male that payment.  

Spend what’s needed to upgrade with reliable mechanical systems, roof that doesn’t leak, remediate all mold; interior design modernized; in other words a place that will attract a higher income no hassle tenant.  

I know of other softwares, like Baselane that handle income and expenses all in one place.

Bear in mind that the fiscal treatment of the two options in Mexico is different (withholding tax on the gross income with the fideicomiso vs cost deductions with the corporation).

For example, require a minimum FICO score of XXX, gross monthly income X times the rent, and verifiable income for the last X years.

@Muhammad Kashif Flipping a property in 6–9 months results in short-term capital gains, taxed as ordinary income (up to 37% federally, plus NJ state taxes up to 10.75%).

Your current single-family property has a $1,000 monthly out-of-pocket expense—consider selling and using a 1031 exchange to acquire a multifamily property with better cash flow.

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

Under current law, annual property taxes would be $2,300.