I rented out the second room. 

First-time renting my home.

I highly suspect something will standout as inflated in this accounting.  

I am looking to purchase a mobile home to rent to section 8 tenants.

Now is rented through section 8 for $2330 a month and it cashflows around $600 a month.

Because of our mortgage conditions, we are going to be moving out of our condo, renting it out, and into one of the 4 units in the new building.My father's conditions for assistance were a loan for down payment, along with funds for renovation work.

1st of all corporations own less than 2% of single family homes, they have actually reduced thier share of buying recently, now investors continue to buy up properties, it’s just more mom & pop types, all that said the housing market is in an extremely strange place, I could make strong arguments for prices pulling back, reaccelarting, or being basically flat, the biggest thing I’d advise is looking at you payment, comparing that to what would pay in rent, figuring out how long you plan to be the house and making an decision based on that, generally in that under 400k price point, breakeven for buying a property seems to about 3-5 years if you plan to stay in the house longer than that, bite the bullet & buy, if not rent.  

Well I already looked, the ARV will be around $240,000 or more, I could rent it out at $2,100.

They can use alternative rent models (STR, MTR, rent by room, etc) to increase cash flow. 

There's some complicated ways around it and things may have improved, but I can tell you that I was personally threatened with being charged with a felony in 2019 for renting my property even though I had gone through the proper permitting.