Here's a simplified and effective approach: Gather Information: Obtain details about the property, including its purchase price, estimated rental income, expenses (such as property taxes, insurance, maintenance costs, and property management fees), vacancy rate, and any financing terms (e.g., interest rate, down payment, loan term).Calculate Gross Rental Income: Determine the total potential rental income the property could generate annually.

This is a much better deal then on income, especially if you area self employed. 

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

That should drastically reduce your cost and lower the risk.

Tenants pay  30% of their adjusted income.

Capital gains taxes are higher if I sell all at once, 15% vs 23.8% due to the size of capital gains income if I sell all at once.

Then I’d hire a professional PM, pay 2/3rds the expenses and keep 2/3rds of the income. 

We then set you up with a team on the ground (consisting of an agent, project manager, general contractor, and property manager) who you will leverage to verify or change our initial numbers as needed; they have hyper-local and real-time knowledge that is invaluable to reducing your required input time and reducing your risk.

.$7k to an insurance outfit.Hopefully she gets more  benefit out of this major purchase than the many others who have not.Just my 2 cents.Or that $120k could have been the down payment on maybe 5 duplexes in a cash-flowing market providing the child a basic income for life!

All of the above, and they will look at your personal debt to income ratio and likely need tax returns whereas hard money doesn't need that.