If your NOI is $40K, then that doesn't even meet the 1% rule, it is closer to 0.08%.

I feel like I have the support of a community with a wealth of information to help with the success in my journey... 

He must be a licensed inspector to conduct inspection and he is supposed to follow all the rules and regulations. 

So far we've gotten right around the 2% rule on about everything we have purchased.

Oh boy, you haven't had a professional scammer/tenant. these people know the rules and can live rent free for a long time. 

Donations have strict rules.

Also you should run through multiple models to see which one will be beneficial for investors and will help you make a name for yourself with your first private money raise.At the end of the day, make sure you discuss with the your attorney and follow the rules set forth for the money raise. 

I believe it's J Scott that says, "Beware the Ten-Percenter"As a rule of thumb, if your penciled profit is 10% (or less) of the final price you should give the deal a pass. 

My question is after I refinance the house my mortgage will go up and I will have less cash flow to manage the property and I will likely not meet the 1% rule whereby I’m renting the property for 1% of the purchase price or refinance price.

FYI: Now that the LO comp rule is in effect it's illegal for a lender to get paid more or less depending on your specific interest rate, so there's no reason not to get you the best rate out there among alt-doc loan programs, if that makes sense, meaning you're not exposing yourself to predatory behavior by being upfront about not being rate sensitive, like you would have been had you said that in 2006.