FHA loan is for owner occupied and you need to live there for a year. 

(only way to get relocation assistance is if the property is owner occupied if its vacant they won't get anything)Q:Should I pull Title before listing the property?

I will likely have upcoming appraisals for both tenant occupied rentals.

The property in question is in a low income boring neighborhood, 1 block away from very low income area, a block from the bus route, but for some reason it is a little street that has mostly owner occupied houses, that are kept up nicely, and it is a quiet street. 

After a year of living there, you can refinance into a conventional owner-occupied loan (they might require 20% equity but ask around) and use the FHA loan for your next purchase.  

If you need to use FHA for a loan, then owner occupy.

I recognize the appraisal will be set based on comps, but what a buyer will pay will take into account the current rents because of the difficulty in raising the rents (cash for keys, rehab extensive enough tenant cannot occupy, move in immediate family). 

Right now I only have to pay 460 a month to cover my full mortgage since I'm currently occupying the premises This is really one of the best decisions I have ever made!

If you intend to occupy and rent out the rooms do not convolute your acquisition with investment real estate return metrics.

No owner occupied properties, but rates are doable and the process is easier (not faster) than conventional mortgages.