They focus on your overall rate of return instead of a 2% rule. 

That also increases IRR and CoC returns but again, we'd rather be conservative so we don't show the boosted returns in our main marketing deck.

I like the idea of having some control over returns whenever possible.

Unless you want to generate history for which unit is historically easier to rent, or has a better return. 

On whose return is the activity for the property reported for tax purposes?  

We live in Oklahoma and file a joint return.How do we set this up to avoid paying self employment tax on the rental llc return?

If you'd like to see what we used, msg me your email and I'll send it along.Some things to consider are not paying until moved out and all keys returned, stating that the property must not be damaged or otherwise change overall condition between signing and vacancy, property must be "broom clean", all possessions left behind are forfeit and will not be held, all tenants regardless of whether they are on the lease must vacate including pets and animals. 

My goal is to then invest in another within about a year, with this small of a return, I would not have the cash to do that.

Can you actually use expected rental income to qualify if you do not have prior years of landlording experience via tax returns?

The return numbers are pretty good.