Hi @Adam Davis,While you may not qualify for a conventional loan, there are non-qm loan options that can go off of your bank statements and credit score without having to verify your tax returns.Your thought of getting the loan and only paying when the house sells is not an option.

As usual, the answer is, "It depends"...First, what are your goals? 

Normal monthly rents on 4brs are going for about $2000-2500 depending on where you are.

@Jenny Lian  depends on the state. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

As depending on your info you can purchase a $300,000 home with 3.5% down.

Depending on how much of rehab you are planning to do to the property some it might be a wise decision to go out there and spend sometime and take care of those rehabs yourself before handing it out to a PM.

However, how well a property cashflows or covers your mortgage greatly depends on the are and type of property you buy.

The answer depends upon how your entities (if any) are set up.

This will vary depending on the bank.