A couple of things:1) Just because you are hearing something on BiggerPockets doesn't make it true for all metro areas or even all neighborhoods of all metro areas. 

Too if I was able to keep a couple extra hundred in my pocket each month 

The woman I am buying the property from was given the land in the 70s while she was married and went by her married name.

I’ve seen a half dozen houses come online within the last couple weeks in the low $200s that would be excellent rentals.I as well as several other BP members who invest in Boise/Meridian are very bullish on that area.

I can recommend a couple credit unions in NC that would be good to use, one of which doesn't charge closing costs. 

Thanks Costin for the pointer to the book (and the flow chart).To answer you Q's: I manage my properties myself.A couple of follow-on Q's: a) Can you elaborate on "you guys in CA are different kind of special"?

I am new to bigger pockets and currently owe a 3 unit rental property with the intentions to buy additional rental units in the next couple of years. 

Renovated, it was bought for $150k cheaper a couple of years ago, so I presume it's a flip.Not a great part of Dorchester, but I guess that comes with the relative affordability of it...

Banks have told me that a couple years of income statements when self employed is needed.Also, yes, rental income would count towards income. 

Looking to do low down payment that will affect cashflow because my family and I will live in the house for the first couple of years and want to live in a more desirable location/home.Thoughts?