At first I was all for spending all my earnings on stocks but my focus is on cash flow & passive income and every kind of stock strategy I looked at just didn't seem worth it to me since inflation and other factors just make buying stock less appealing.

Your experience in real estate investing will be another factor as well as the financials of the property you are purchasing.

Have you calculated all factors, such as property management, repairs, renovation and similar things?

(if you dont have heloc yet use tdbank, they are the best)The bigger issue is if you want low rates that you can cash flow with you are talking regualr real estate mortgages in which your DTI will be a factor. 

Since you somewhat have control over the price, mark it up by 2000 and give that as a bonus to the buyer's agent.Also, a key factor in a home selling is the condition.  

Compare the cost of insurance to the cost to set up an LLC and factor in the annual filing fees and accountant/attorney fees.

Additional, to the extent that your offer has other superior 'non-price' factors such as 'all-cash' (no financing contingency), large earnest money deposit (EMD), waive inspection (if you are comfortable with that) and possibly a quick close, sometimes you can swing the tide in your favor. 

For example Emerging Trends in RealEstate – The global outlook for 2015 or America’s Rental Housing – Harvard Studies or n.number or published articles and books.At the end of the day you have to look at both macro and micro economic factors so that you are aware of what’s going on globally and it’s local implications you also need to have a deep understanding of your farming areas and know a good deal from bad one.

If you used a credit score as well then there are certain additional factors you need to add: credit score, score range, negative factors influencing score (and mentioning too many inquiries if that is a factor].BTW if you have  set standards in terms of screening you pretty much cover your FHA issues too by being obviously non discriminatory. 

Potential break down:$1818.91 mtg payment assuming 3.75% note rate (400k sales price 3.5% down with 1.75% upfront MI financed into loan FHA)$273.42 Monthly MI FHA (factor when LTV is 95% or greater is .85% annual /12 months)property taxes about $650 per month based on aboveBoiler/heater about $400 average monthly based on the above between high months and low monthswater trash - assumed - $300 per monthElectric (assumed tenants pay this) $0.00property management 8% of gross rents $371.20 per/morepairs $300 per/moAssuming 4640 gross rents, the net monthly cash flow will be around $526.47  a month.