It is a product they offer for those unable to utilize the VA loan, however after calling them for the second time to verify that I would qualify they stated that it can only be used for secondary properties but not rentals.

Are you paying utilities? 

Property 1:Rent: 1625Mortgage: 560Repairs: 1000Owner Operating costs (utilities): 382Management: 114 (8%)Taxes: 100Capex: 112Vacancy: 70Insurance: 67Property 2:Rent: 1745Mortgage: 765Repairs: 3000Capex: 175Vacancy: 87Utilities: 60Ins.: 70Taxes: 105Management: 140 (8%)Thanks for the help @Taylor Chiu

And in Des Moines then you have to factor in utilities paid by landlord too.

Along with that, you may also be able to utilize a 203k loan which allows you to finance the renovations of the property, roll those costs into your home loan and amortize them over 30 years. 

I wanted to pay for everything but mitigate people using too much of the utilities.

As does Instagram Nation.  

Ie interest, utilities, property taxes etc.

This is a typical "seasoning period" required by most lenders.Repairs and CapEx will probably be closer to 15% of GSR all in.You're not accounting for insurance.What about water/sewer or shared utilities?

insurance $2,285 landscaping $300 management $1,606 professional $200 property taxes $2,190 maintenance $4,155 utilities $19 total $10,755I need to know if these expenses are reasonable before I decide if/what to offer.