My goals have always been to build passive income leading to financial independence (which I've been fortunate enough to achieve). 

I also don't go after the top rent possible BUT I don't think it hurts me because I think that I make up for that with reduced vacancy.

Would you just leave out the income requirement since the housing agency is covering the rent?

A reverse mortgage can be paid off, but the parents may have trouble obtaining financing as typically a reverse mortgage is received when borrowers have trouble making monthly payments and have little income but lots of equity.

The former is valued based on the income approach and the latter based on comps. 

Can the $2k reduce the otherwise reportable capital gain from $50K to $48K?

While it's not necessarily a deal breaker it's important to ensure that you are paying a reduced rate for the house.

.- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.When we took over the property the 16 units were producing around $9000/month in gross rent.I just checked our rent roll today, and we just crossed $17,000 in gross income monthly!

@Terri B.To increase your Cash on Cash return on investment, it may be beneficial to use debt to obtain income and asset appreciation with less cash expenditure.

I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is too high due to my student loans and mortgage.