I would also say congrats on saving $150k in investing capital, that's more than most start out on and depending where you invest you can probably get to your goal in a fair amount of time. 

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Definitely a question for a tax attorney/accountant, especially with the dollar amounts involved. 

One challenge to manage is being able to clarify for lenders on those rentals (if you have them) which amount of the premium should be paid for each rental so that they do not include the entire premium into their escrow analysis, inflating your monthly payment on that rental. 

Suggest you check in with him/her on this additional service as your attorney is already intimately familiar with the file and you can often give them pre-authorized amounts to settle on vs trying to squeeze all the blood from that turnip. 

I prefer to have the least amount of banks as possible.Create a bank account that you already have a relationship with(Credit card or mortgage)The least amount of bank accounts is also ideal.

@Kristian Forbes Short of doing another house hack or negotiating the purchase price down a fair amount, I think that's going to be a tough one to make the numbers work.

Most will not do 100% loan-to-value so plan on something less than that for the loan amount.2.

I put 20% (54,000) and then an additional 7% of the loan amount ($15,000) since the bank only offered 93% loan of the purchase price. 

For example, if the lender uses an 80% LTV on the loan, but the DSCR is 1.10x (and their minimum is 1.20x), then they will reduce the loan amount until they get the DSCR to 1.20x.