don't forget to account for vacancy rates, insurance and maintenance that you'll be responsiible for as owner.

@Rod JosephYour post states "Mortgage Expense" is that supposed to mean that monthly debt service is $2,600 or is that Mortgage + Insurance + Cap ex + Management + Repairs?

The attic and the basement have standard height ceiling.

I'm a licensed and insured general contractor who works on New Orleans houses and commercial spaces.

My strategy plan was to house hack a multi-family unit on a FHA insured loan, though I may have to rethink my starting approach.  

The attic and the basement have standard height ceiling.

Our goal is the standard BRRRR model as found on bigger pockets.  

As to your question: I believe that for any loan over 78% loan to value (an FHA with 3.5% down would have a loan to value of 96.5%) you have to pay private mortgage insurance (PMI) to protect the lenders in case you default on the loan.

Before having any tenants sign a new lease with you, make sure to complete your standard tenant screening and run background checks, credit reports, etc. on the tenants.

I know our firm starts to modify standard emails and calendaring features we send to clients right around the 2nd week of October every year to address this very issue.