However, I will still be required to pay income tax on the income generated from my private lending activities.

AKA Work-ready.I purchased the home with an FHA loan, and my original contractor (as required by FHA otherwise I wouldn't have used one) underbid the contract not understanding the inflexibility of such a loan.

Banks will require that you hire a licensed contractor. 

If you are buying in a state that requires the prepayment penalty to be bought out, credit maybe isn't the greatest, it's a multifamily, etc that's going to affect your rate.

I am imagining you will require gas, electrical and water to be relocated if you're moving the laundry.

There are still areas where you can buy units for $200k/ door but they require a lot of work usually and covering all operating expenses and interest payments can be challenging base on low-ish rent levels in some places.

This was after she agreed to my offer and the listing agent allegedly explained what was required to remove the tenants. 

Some states require the lease to name the property owner as the Landlord and the management company as an agent for the owner.

Sure, you may come across a few that put in too many maintenance requests from time to time, haha, but most of that can be handled with a phone call and doesn't always require a tech (or you if you are self managing) to be dispatched.Software: I cannot stress this enough, make sure whatever software you choose is user friendly, for you and your tenants!

Did you live a year in each one and then buy the next one to meet the primary resident requirement?