All in all, I feel like I'm spinning my wheels and have the initial doubts that I'm sure most have had.WHAT DO I WANT FROM YOU GUYS: Knowledge and Accountability, plain and simple.

So I got the mortgage under my own name.Now I spent sometime reading some articles and think I really should separate rental property income transaction from my personal transaction.My questions are:1. is it ok If I form up a LLC just to receive rental payment using the LLC bank account and pay property management company?

You can actually sign up for a free account to try it out to see if it will work for you.

Also unrelated: is there any way to account for high vs. low turnover rates in the calculator?

@Curt Smith Again, not an expert, but from what I've read online and in the FHA handbook, 1) you only have to owner occupy for 12 months on an FHA, but it's 24 months I believe before they will take into account the rental income, 2) like @Russell Brazil said, you can only ever have 1 FHA at a time, and 3) the 100 mile rule is still in play even after 2 years of owner occupancy if you're moving from one place to another and still holding on to the first as an investment.

You can get a <250K personal LOC with no fee (30$ annual) for about 7-8% APR.Try local credit unions.

Originally posted by Account Closed:HelloFrom what I understand, with no experience in real estate investing, mobile homes only depreciate and that banks don’t see them as having any increase in value after repairs.

We just found out that they changed our move out to September 17th and charged my husband’s account for another month of rent. 

In my experience the inspectors were fairly "petty" when it came time for the Section 8 annual inspection / rental increases. 

If you're buying a deal off of the MLS in your area, then the Real Estate brokerage will hold escrow in their account.