FR - 5397 - N - 05), “Federal Housing Administration (FHA): Temporary Waiver of FHA’s Regulation on Property Flipping; Extension of Waiver” , dated November 29, 2012 at http://www.gpo.gov/fdsys/pkg/FR-2012-11-29/pdf/201...View the Electronic Code of Federal Regulations at http://www.ecfr.gov/cgi-bin/text-idx?

Apologies if this is a question that didn't need to be asked. I could find a clear definitive answer.  I wondering, when trying to finance a property with an FHA or conventional loan. does the bank take the rental inc...

Does this number seem a high number for the home we've described?

If you do, accidentally, than you need to make sure you do the appropriate financial transactions to log the expenses as owner contributions or disbursements.If you talk to a CPA or attorney they may disagree with some of these above points, however I view it like this.

It is quite important that you will have this 4 to 6 months free lot rent as you describe in your original comment.

I mention age only from the point of view as to the gross lack of experience and wisdom, youth simply can not achieve these aspects.

On the other hand, 5 units or more are viewed as businesses, and personal credit is not as important. 

I would immediately set up a meeting (offer lunch) to introduce myself and lay out my intentions for the unit and describe a responsible, respectful and benefit to the neighborhood- type of tenant I am looking for in the unit and my hopes that they are that type.

Furthermore, if there is ever a dispute between you and the tenants, it is so so easy to put the responsibility on your for not supplying this or that.Maybe some times like internet or cable (without pay per view) might make sense, but i couldn't imagine anything else.  

I appreciate everyone's input and quite honestly, I was a bit confused the day I posted this since everyone had their own point of view.