In any particular year for any particular property your actual results can be somewhat better (taxes and insurances are the bare minimum) or can be much worse (no upper limit.)

We did this so that if there is an accident or something happens at our rental, our liability is limited. ...I encourage you to seek out a competent attorney because if you and/or your wife manage that property, you don't have the protection you think you have and you need to make sure you carry adequate liability insurance.

Limited liability is the most critical one.

The Sky's the Limit - Passion and Property in Manhattan - Steven Gaines

In order to be an eligible borrower under FHA you need to be Legal Age (18 or older) or married.There are also maximum allowable loan limits that are set by individual counties.

Cheers, Eric There's lots to learn and limited time to study, but the wheels are turning.

When you go with commercial or portfolio lenders, there is theoretically no limit.

There's really no limit.

I'm not sure using the 50% rule for such low rents is appropriate since there is a lower limit on what repairs costs and these rents won't go as far.

And as Rod mentioned, you can also get the updated approved rent limits, which can be higher than the market rate.