It's net income is a loss due to high turnover costs, management fees, etc. 

Additionally, basing the loan amount on past below-market rents seems unfair, as lenders should consider current market value and potential rental income.

There’s a few options:1. conventional loan: this assumes your debt to income could support the mortgages2. commercial loans: these would likely be similar to what you are in now.

Lastly make sure you have a high income if possible to help fund those assets asap so you can have flexibility when entering the real estate investing world.

Yes, some locations are better than others but it all comes down to price, condition & what you can get in rental prices to ensure you have both income & equity in the property you are buying. 

This includes the rental income, PM fee, any repairs, etc.

I'd try to find family/friends/network that would want to come in with you on it and share in the income.

When evaluating rental properties, aside from school districts and convenience, consider factors like neighborhood amenities (parks, restaurants, shopping), rental demand, job market trends, property condition, potential for appreciation, and rental income compared to expenses (including taxes, insurance, and maintenance).

I believe there are income requirements and this has to be your primary residence. 3.5% down is the minimum.

These are tax deductible contributions which decreases the Tax you pay, and not your adjusted gross income.