More importantly was realizing that if I'm uncomfortable with the accessibility, then potential renters will be too.

As pointed out above, I don't thing that you are including all of the expenses.

The loan program qualifies the property by using Rental Income to cover the Total Mortgage Payment which includes Taxes, Insurance, and HOA.Regards,Michael Taylor

However, if the $500/mo does not include maintenance, vacancy, capex, and property management, then it probably actually makes your cash flow negative.

Spend some time conducting in-depth research, including speaking with a professional in the field, and base your choices on your objectives, your tolerance for risk, and the particulars of the markets in the locations you are considering.Good luck!

By net I mean take home pay after direct booking fees, including cleaning.

I've seen conflicting information on when/whether these costs are deductible — most, including Pub. 536, seem to apply to the *purchase* of a rental property, and resources that deal with sales have focused heavily on either straight-up sales with capital gains taxes or on 1031 exchanges with deferred gains.

This also includes future medical because that is becoming one of the biggest expenses. 

Target rent is 2200, my expenses will be around 2050, so cash flow of 150 (not including vacancy).  

Its important to factor in the costs to remove the current tenants.