I dont know if its for you, but I work with a Broker there that can assist you, they use multiple platforms Moodys is really good but costly if your’e not a Broker or have some quantity discount, hmu Ill give her name, shes awesome to work with, itll save you some headache and time :)

Passing the Self-sufficiency test on 3-4 unit properties with FHA financing is truly a nightmare. 

We've touched on this prior to the 'settlement' that today lenders essentially allow the real estate commissions to be rolled into the buyer's transaction by appraising for a price sufficient to cover the RE fees.

Once you've accumulated sufficient reserves for the property in this account, you can then use the excess cash balance to sweep over to your personal account as profit distributions.The key here is keeping the entities separate. 

What guarantee do you have they will carry sufficient hazard insurance?

I probably wouldn't keep the home with negative $550/month cashflow unless you have serious reserves and sufficient bulletproof (as in recession-proof) discretionary income.

With FHA loans, there is a self sufficiency test.

Most houses cannot be bought at a price sufficient to cash flow.

Most seller financed deals are to borrowers who lack sufficient credit to get a conventional loan, so their risk of default is much higher.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.