@Alex Houser You need more numbers and a proper inspection to justify the price. 

I've calculated the lump sum costs to be $9,500 for buy and sell combined and a monthly reduction in cashflow of $347 due to the new loan and taxes.

Add those people in by using County or Schoolarea population.Example:Town1:#ofunits/headcount= 300 units in the area/ population 3,000= 10 unitsper 100 people.Town2:5004,000= 12.5 per 100Town3:andso on.Doevery stand alone town in a 60 mile radius, or until your satisfied.You will get a High, Low and a average.

You can choose to report your income and expenses on Schedule C by electing to file as a Qualified Joint Venture instead of filing a partnership return.If you have created an LLC that is not in a community property state, and as husband-wife you are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a corporation for tax purposes.If you have created an LLC in a community property state, and husband-wife are the only members, then you are a partnership and must file a partnership tax return unless you have elected to treat your LLC as a disregarded entity or corporation for tax purposes.

As an investor - if I was putting $125k down I would want title in my name and a clear title policy - so that is where I would have the issue. 

Starting with one property is a smart way to learn the ropes, and as you grow, networking with local agents and other investors can be invaluable.

But the "art" really only comes with time in market and a deep understanding of both the market and the operations of assets.

In 4 or 5 years you will have appreciation and a solid number of years with 2% remaining.  

The price-to-rent ratios are generally unfavorable, and a shortage of skilled tradespeople and reliable property management can hinder the success of buy-and-hold rental investments.

It seems like there is no catch, would they let me buy a property this month and a property the next month for instance if I have the 25% down+closing costs and can prove that it rents for a decent amount more than the mortgage?