Take those lessons you learn from this and apply it to your other properties. 

I guess I need better data to be able to apply this technique to analyze my current location!

Last time I applied for a mortgage, although it's been a few years now, they questioned everything.My 2 cents.- Tom

What is one important lesson you learned from the deal that you still apply today?

You will be fixing it up because you like living in a unit that is not broken.If you then SUDDENLY decide to move out AFTER a year into the loan, you can apply for a new FHA-approved Loan for your new primary purchase, once you've converted the original loan into a conventional (investor-friendly) one.

I see you applied a PM expense even though you will be managing it yourself.

@Anton Keith @Kateesha Tearry Everyone's path is going to be a little bit different, but there are some basic foundational principles that apply to everyone. 

I saw this done with a mechanics lien, in CA so I don't know if it applies.

@Karen Margrave The term "licensed" or "unlicensed" can absolutely apply to contractors.

I'm waiting to apply for the state exam and am new to the site.