I understand that the potential to make little to no money is the "norm" for the first year or so, I am okay with that prospective and would much rather gain knowledge and allow someone to give me an opportunity to prove my abilities.

And I am actually going counties for the owner occupied haha, Im going as big as I can within reason and my ability to handle the letters. 

The lending policy also establishes pre-determined lending authorities for loan officers commensurate with their abilities and experience.

Things like ability to obtain financing, business partner's approval, cat's approval, etc sorry, been reading too much Robert Kiyosaki lately

Verify the tenants ability to pay the rent etc. for yourself.

$300,000.oo Purchased & RehabARV $500,000.oo70% rule applied, Thank you B.P. for the info, giving me the ability to present factual statistics #KNOWLEDGE_APPLIED 

The neighberhood needs to look good because your ability to resale can make a difference.Good luck to you!

; do you know how that would affect my ability to write off annual expenses that occur as part of maintaining that property?

I will try to answer to the best of my limited ability.  

You want to market your property to the best of your ability.