I spoke with my lender and they need to see signed leases and receipts from 2 months payment before they would include rent as income. 

If you can rent the property in peak season for 1% of asset value per week you will virtually always cash flow.  

If I secure FHA funding, I would live in the house for the required time, then rent it out.

You should know if you can upgrade with the 60k that you can get the rents up the $150-$200 they are under market right?

You do not need to worry about raising rents when you live there.

If you rented, how much would that cost you each month? 

Think about your boyfriend's commute, rent income, and property growth.

A recent pregnant women applied to rent a townhome of mine for a year lease.

Add a short statement at the end outlining whatever you are changing, have all parties date and sign, and you are done.Example: "Landlord and Tenant agree to extend this lease for an additional 12 months with a new termination date of 12/31/2025 and a new rent rate of $1,950.00 per month."

I have Evansville homes for rent and was happy with them.