You have definitely built an impressive portfolio.

Currently, six properties are under development, with many more planned for 2025 and beyond.This inaugural home, built for an investor, was completed for $275k and offers an impressive cash flow of about $500 per month.

However, after collecting more information from PHA they stated I should aim to rent the unit at what other units nearby are renting out for and NOT go as high as the SAFMR states you are allowed to go.

If I told someone my gross rental income, it sounds impressive. 

The goal is to start getting your land-lording processes into place--how will you advertise, how will you screen, how will you collect rent, how will you deal with maintenance, who are you going to use as a lender, what is your process for bookkeeping and taxes.   

He seemed a bit standoffish but that isn't a unusual impression for me from Bankers (no offense intended). 

A little late to the gratitude fest, but like @Kerry Baird above, I am genuinely grateful for the old timers here and the new voices as the collective wisdom of this group is something I tap into regularly.

Because the cost of roofs, ac units, water heaters and so on don’t care if you collect $600/mo in rent or $3,000/mo.  

So far we have collected about $280,000 but the borrower has been unable to pay us off.  

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.