@Tyler Wash welcome to BiggerPockets!

The previous owner still used a wash board 10 years ago . 

However, I wanted to let you know that there are MANY moving parts in this machine and MANY things have to line up and work out just right for a deal to finally get done.

However since the first part of 2018 it is essentially a wash and we know the economy is strong at least through 2018.  

@Chris RobertsThe short answer, no.For using rental income on the property you already own and are vacating, you cannot use an appraisal for the amount of rental income, you would need to have a signed lease prior to closing, and you use 75% of the gross rent, which will wash against the mortgage payment.

Because our nation is so evenly split, I think its a wash.  

So at 120k, going the SE route but paying and filing end of year on everything means about another 10k in taxes and penalties, but if I have 10k in losses and write offs elsewhere, it's a wash, right?

They have a tenancy to pill up after some use and washes.

Additionally, tell tenant to purchase a white noise machine or run a fan in the bedroom to create white noise and drown out the small noises they will hear from upstairs owners.

I think that regardless the strategy, real estate in the long term is a wealth creating machine and want to take advantage of it.