Turnover is your single biggest expense.

I think the decision depends on the revenue  and appreciation potential of the property vs. a comparable property local to you.

So am If I understand correct they would want about  $125 in revenue after other expenses (other than mortgage)  for every $100 in loan payments?

Extra beds and extra rooms increase your occupancy which increases your revenue.

We have seen the biggest bottleneck for us is on the lending side, especially with the appraisals. 

"My agent suggested that I put 10% as my due diligence to win the property" - that's 50-100% of your down payment depending on which you go with, the biggest question is: are you willing to walk away from that $ if things turn sour? 

We are only potentially realizing the appreciation only, despite relatively significant annual gross revenue.

The biggest lesson learned is doing the work yourself does not save you money.

The biggest lesson learned is doing the work yourself does not save you money.

Many renters (but not all of course) live pay check to pay check and the biggest issue is that they dont HAVE THE MONEY to pay for another place to go.