You may need to increase or decrease the expenses based on your situation.

Investors come to our market because of the low barrier to entry and that we have a solid tenant base that provides solid cash flow to out-of-state investors like yourself.

If debt concerns you, look at DSCR loans, which qualify based on rental income instead of personal finances.

So, based on your numbers you could borrow up to 243,750 on property A, but owe 220k, so that would only be 23,750 in borrowable equity. 

I would highly recommend you listen to all the podcasts from Kenny Bedwell - Cashflow Positive.

It's an organization that a cross between a 501C and a FBO(faith based organization).

For example, I would recommend touching base with local landlords in the market you're wanting to do section 8 investing in to get a feel for how the local section 8 office handles landlord/office relationships. 

I've got the idea to more positively incentivize my tenants to pay rent by the idea expressed in the following example:- If they pay any later than five days late, they pay base rent ($1,000) + fixed late fee (e.g., $150)- If pay on time without autopay, they pay base rent ($1,000) + "manual payment fee" (e.g., $25 or $50)- If they use autopay for timely payments, they pay just the base rent ($1,000)In the above example, you see that a discount of $25-50 was applied in the case that the tenant chooses to setup autopay to schedule on-time payments via a given PM software.Please let me know if any software comes to mind and also any feedback on the positive incentive idea.Thanks in advance!

I believe it is against the law to discriminate based on a previous bankruptcy filing. 

My opinion varies based on my experience, and keeping a property manager has been a nightmare for me.