should I buy double the amount of $50k homes, earn more on rentals now but take smaller returns on the sales?

If it's a really desirable area it won't be empty for long though.  

If you don't think I could qualify for a loan under my current circumstances, let me hear it.I want to contact a mortgage broker to get preapproved for a loan but I don't know if my earned income, as well as other factors would allow me to qualify.

Since it is not earning much as a flip, my plan is to rent it for a few years, take the tax break, hope for some appreciation, then sell.  

If I needed tax advantages become my earned income was high, I may buy another rental. 

Usually the house was originally built as a single family house but over time redesigned so the owner could earn some income.

This means that when that arrangement is desired you will need to produce a separate document which deals with all the terms of the trade clearing or modify the contract.  

It is always prudent to have a competent attorney review your contracts if you desire.

They are generally newer properties built within the last 15 years with top amenities, high-income earning tenants and low vacancy rates.

Instead, you will report some amount of interest earned on your loan.