Sometimes it's just easier to understand/accept a message from a stranger who has no skin in the game than it is from a loved one.

It may not be a slam dunk, but it sounds like it will be a solid rental. 

Just need to understand what the numbers are versus the words. 

However, the issue I have is that I only have 1 year of solid income from the business, the year prior to that is inadequate, and I know most mortgage companies require 2 years of income to qualify.

Here's some tips, Research the Market, Understand financials, look for multi unit properties, consider legals. 

Hey @Alex Jacobs, I'd start by finding a solid investor friendly agent in your local area; definitely meet with a few of them, but ideally you will find someone who has a decent network that can connect you with resources such as a solid lender.

I have a ton of knowledge and really understand the Detroit market on a deep level.

In this case, the loss limitation is $25k per year AND your $25k loss threshold for the year begins to phase out at $100k in income and are completely phase out at $150k.If you have real estate professional status and are materially participating in long-term rental then the $25k loss threshold is removed (there is still a business loss limitation that you need to be aware that f but it is much higher then $25k) Would recommend finding CPA that understands real estate and REPS.

A realtor helped find and negotiate, but we had to hold his hand quite a bit to ensure our contract was solid on the sale.

Education Includes determing your best investment strategy, real estate strength & weaknesses, current and projected real estate market, and coming to understand what you don't know.Bigger Pockets is a great place to learn through blogs, posts and contacts here.