These type of people always have a story about the job they're about to get, tax refund coming soon, inheritance, etc. and when you drill down you find out they lack basic things (ID) that would enable them to follow through on their plans.

I want to do an FHA loan, except for the fact that I don't have the few year span of tax documents needed to get a bank loan.

Seller financing is a great way for the seller to avoid a lump sum capital gains tax, and still make steady/expected income on a property even after they sell it. 

Fifth, elements outside your planning or control can increase expenses significantly; tax increases due to budgetary shortfalls, insurance costs doubling due to natural disasters, tenant damage beyond what the security deposit will cover.  

Make sure to research property taxes, insurance, and any outstanding utility bills. 

We started the journey last year Sept 2023.The deal closed mid November, after a 2 months journey to find the perfect property (price/Cash Flow/appreciate) and closed on it.Made her aware the holidays isn't the time for renters to move, however, once W2 taxes were issued in January 2024 she would get a tenant.She is officially a landlord!

Due to their liability protection and tax advantages.

They would likely lose any homestead tax benefits and possibly lose other things as well.

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

On your taxes do you write off the MI currently?