But, due to being self-employed, it is extremely difficult to get accepted for any kind of FHA loan.

I'm in a situation where i'm newly self employed (1.5 years) so dont have enough tax records to qualify for FHA lending. 

Does not fly.And if you claim that you only spend 20 hours a week for your W2 job, an IRS auditor will request a confirmation from your employer.

Self employed here, average $3k for prep and pay 37% effective tax rate.

Do any of you currently employ water submetering in your Pittsburgh properties and can recommend a product and/or plumber?

Solid area for sure but… IMO I wouldn’t buy multifamily unless I’m buying for $25,000 - $30,000 a door.I’d rather stay sleeping in bed haha@Ryan Pyle is the Godfather of Toledo multifamily investing and a top bloke 👍Mate, I know you manage multifamily Happy to make intro if interested I know you are more patient and reasonable than me and maybe can talk some sense into people hahaI’m too hot headed as you know and am just looking to get my first ever misdemeanor hahaha 🙏

Then the debts are "Omitted".This is usually more beneficial for a person who receives W2 income from an employer and wants to exclude their W2 income from being hit by the credit cards, automobiles or mortgages being paid out of their business checking account.There are also ways to gross up some of the income but some lenders have overlays and hit you with things rather than allowing add backs.

I might pursue the tenant if they have solid employment. 

Today we invest 100% into Roth contributions so there is no tax benefits to diverting the funds I would just be giving up the $7K a year employer match.

You don't necessarily need a w2 for active income it can also be anything else like self employment works too you just have to wait one year of tax returns but run your business for at least to years to use it and make sure you don't write off too much as you want to be able to use the income to qualify for a mortgage.