You will need two years of your 1099 documented income to qualify for a loan as a 1099 employee, both years of taxes complete for them to formally pre-approve you most likely.You need to bank as much money as possible.

You have come to the right place to begin your investing journey.Have you looked into attending local meetings and joining Facebook groups?

Some of the laws in NY changed recently and you are required to obtain a certificate of no harassment, No permits will be issued until it is resolved.You will need to work with the current tenants for this certificate to be approved which can take up to a year or more, Definitely something big to consider.  

Quote from @Emory Clayton: From what I can tell, and my personal experience, you will have to lower standards so the Section 8 applicants can qualify.I'm not a fan of Section 8 because they tend to be far more problematic than tenants that pay their own bills.

@Sudheer KumarDM me and I will connect you with our mortgage broker.

I see you are not from Michigan.  

With private patio and great Williamson County SchoolsWhat made you interested in investing in this type of deal?

All moving a property to a LLC will do for you is add cost. 

If it happened after I disqualify.3) Unlike current HUD law which disallows us to use felony status as a screening tool, SEC 8 removes any recipient holder over the age of 18 who gets a felony.

A lot of times when you make a bedroom out of a room, but your square footage is the same, you don't end up adding much to the home.