If you used a credit score as well then there are certain additional factors you need to add: credit score, score range, negative factors influencing score (and mentioning too many inquiries if that is a factor].BTW if you have  set standards in terms of screening you pretty much cover your FHA issues too by being obviously non discriminatory. 

You'll be able to meet others who have dealt with these individuals and also sense their integrity and reliability.Stay away from anonymous online lenders, if that's how you found this one, and anyone else making fantastic promises.

Potential break down:$1818.91 mtg payment assuming 3.75% note rate (400k sales price 3.5% down with 1.75% upfront MI financed into loan FHA)$273.42 Monthly MI FHA (factor when LTV is 95% or greater is .85% annual /12 months)property taxes about $650 per month based on aboveBoiler/heater about $400 average monthly based on the above between high months and low monthswater trash - assumed - $300 per monthElectric (assumed tenants pay this) $0.00property management 8% of gross rents $371.20 per/morepairs $300 per/moAssuming 4640 gross rents, the net monthly cash flow will be around $526.47  a month.

I'm not sure you are considering factors such as, off the top of my head: 1) unlike the have-a-pulse-get-a-loan scenarios of yesterday, they are required to have proper debt-to-income ratios and meet reserve requirements so as long as they don't lose their job for an extended period, they've proven they can afford the payment; 2) even in a down market, they will have to live somewhere, so unless rents are much cheaper, which is unlikely, it makes more sense to not ruin their credit, keep paying and stay where they are, especially if they've improved the property at all; 3) these loans are much more likely to be 30-year-fixed, not the ARMs of yesterday that adjusted up to a surprisingly unreasonable payment (many didn't understand what they signed up for until, Wham, the payment doubled on them, so they had to walk); 4) they pay MIP, upfront and monthly, so there is some protection for the lender if they do default.Many of these people would be stuck paying much higher rents, building others' equity instead of building their own, without FHA loans.  

It seems that to calculate actual returns, you need to of course factor in your acquisition costs,  but also the servicing costs.

Factors include proximity to retailers and how noisy the neighborhood is.Employees ultimately weigh about 15 variables when calculating a bid price, the monthly rent and renovation costs.

I'm not looking to be a "VA" but would love to integrate my skills and my new license into a new career as a real estate professional and eventually an investor.So here's the question.

First Integrity too.

Have no idea what his screening process was like and other factors that may have affected his experience though.This is secondhand - not my personal experience - so the facts may not be 100% accurate, but something I would have never considered up here in the 'burbs :)

High unemployment could potentially be a factor driving NOI's of properties down, therefore decreasing your purchase price.