theoretically you could go 70% cash out on DSCR with STR income to qualify (currently considered "vacant" property), even if rural.

After thinking on it a bit more, I am going to look into the feasibility of a rent by room strategy to increase the cash flow and speak with some lenders to learn more details about what I'd need to provide to be able to consider these rents in my DTI calculation when I am qualifying for the next mortgage.

There are some complicated rules regarding the circumstances in which you can qualify for the STR deduction against your W-2 income. 

Investment Info:Single-family residence buy & hold investment.

Your profile mentions doing a 'live-in-flip'.You would want to work with a CPA that is knowledgeable of real estate and also has a good understanding of section 121 which allows you to exclude some gain from the sale of a personal residence.

@Dieter Best  What you are talking about is a Ratio Utility Billing System (commonly known as a RUBS program) is a method for allocating billed utility expenses to residents of a multifamily.

The property is beautiful and would make a great vacation home, STR, or primary residence.  

Hi,I am new to RE Investing and would like to check if following numbers makes sense or am I missing anything:Property Details : 3/2 TownhomeIncome: $2800Expenses = $2700 (approx)Here is the break down.Mortgage + Tax +Insurance = 1800HOA = 265Vacancy = 5 % per month = 140Repairs + Cap Ex = 200PM = 10% per month = 280Total Cash Flow : $100I can get greater cash flow if I manage myself but I am not planning to do it.I am thinking of getting HELOC and buy a new primary residence and rent this one.

What financing options are out there for us to take financing against one of our properties being non US residents with no credit history?

That is the jist, i would like to add to the responses above that even in the future if you qualify for real estate professional status, those losses cannot offset active income since in the year you generated the losses you were not real estate pro.