After buying the property, you move in and rent out the other bedrooms or units.

I personally like long term rentals, but it sounds like the numbers don't make sense and if you cant afford to or can't justify covering that much negative cash flow then another strategy is renting by the room, that works well if you have or can convert to at least 4 or 5 bedrooms. 

I take it is a 6 bedroom or larger property hopefully with an indoor pool at the price you have invested.

It's a 5 bedroom in a non HOA, quiet, family neighborhood.

If I had one I'd be living in it and renting out all of the bedrooms.

Perhaps 75% of comparable 2 bedroom units rent between $1100-1400 per month.

It’s a small single family three bedroom one bathroom unit, I bought it for cheap and plan on renting on the higher scale by making minor improvements such as flooring, fresh paints and of course new kitchen and bathroom

3) What is the number of bedroom that is printed on your voucher size?

One thing you might consider if it works for you is buying a hack and living in one of the bedrooms or use that as your permanent address for a year, until you get it up and running and then do it again...and again...until you tap out on time to manage. 

A legally suited detached with garage is around the $375k - 450k point (in decent shape). 3 bedroom, 1.5 bath main floor around 1100 sqft can rent for $2000-$2200 a month (utilities included). 3 bedroom, 1 bath basement can rent for around $1600-$1800.