hahahaSo for example, if I the mortgage on the property I am trying to purchase is $2000, and the rental income is $2100, that would be beneficial for me when I am applying for the loan because the rental income would cover the mortgage.

Nuclear war could also hamper your rental efforts.You bring up a fair macro concern, but the old adage applies -- diversify.

I'm a wholesaler here in Texas and I've been told that the tax delinquent list is some of the best leads if you pull the ones who haven't paid their taxes in over 2 years.The problem is that they're not located in Texas (they're located in North Carolina) and I'm wondering if the same laws and scenario would apply in this state if I pulled the list of tax delinquent properties over 2 years. 

They want to move to another part of town but despite having applied at many places, they haven't been accepted, apparently due to low credit scores. 

Including the target value.Also when you apply for the refi tell the bank the target value.

I also do not think that the exceptions under 4975(d)(2) or 4975(d)(10) apply to managing a rental.Is my reasoning flawed?

If you choose to sell then you can sell at any point but the discount rate applied to the cash flow may be more of a discussion to reflect the uncertainty of a new product. 

use private or hard money to buy and fix, then apply a conventional afterwards. if you own it for 80% of the ARV then you can get 100% of cost mortgage.

Here are the laws in regards to this stuff.4735.01 [Effective Until 3/20/2019] Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

-Since you have to pay for application fees $90 in our case (non-refundable ) plus a $250 holding fee (non refundable if approved and refuse to sign the lease ) I do not think it makes sense to apply for several locations.