To be eligible for it you must be self-employed or have legitimate business with earned income. 

Unit size is 1,640 sqft. 3 bed/2 bath. 

@Buyan ThyagarajanI would be more concerned with the size of the renter population for 2-bedroom homes versus 3-bed properties.  

@Stephen HuffMy points:The OP is not even a member of the HOA (and never will be, his parents MAY become members)The OP knows there is a wet spot on the carpet the size of a dinner plateThe OP has not paid for an inspector and I would guess has no inspection report, he is relying on the word "Mold" which is passed through a seller and two agents, where a report could say "discoloration" or "Mildew".

Richmond is one of the strongest markets in the state, driven by VCU's expansion over the past 10 years and a trickle of new employers.

big difference on somehting this small.how many rentals, what are lot sizes, age of homes, are you willing to self manage...because that is what your probably getting into to.

My question is will I have to pay self employment tax such as medicare and social security on my profits?

  :)  His last wish for me was to move to a smaller place where I would be comfortable living alone, both financially, and house size wise. 

So these are already decent size houses and the jobs are already there mostly through the NAVY and the government.

Great for a small to medium size landlord.