Cause yes you will get more rent maybe on the next tenant, but turnover is on average going to cost a thousand so keep that in mind as well.

It auto downloads transactions from banks and credit cards, gives you profit and loss, balance sheet, expenses by property or by category, etc etc…

The difference between getting a great deal vs an average deal is the way you battle with the seller's and their representatives.

For more of a SFR 'average' American home (whatever the median for the area is) I would say that an address specific  letter of preapproval (when submitting an offer only) is sufficient.

The curtailing of rental property financing is not driven by market fears, it's driven by gov't policy.The gov't is keeping rates artificially low with the intent of helping average homeowners (the idea being that "average homeowner" takes his $500/mo mortgage savings and spends at least $450 of it each month on consumer junk, maybe a new car payment, maybe eating out, whatever, thus stimulating the economy).

Pick any 4 year period over the last 75 years with the exception ofthe 2007 subprime crisis and the housing on average increased.

The cities efforts are still paying off with a amazing appreciation both in values and average rents.

And if there aren’t any mortgages for the self employed without 2 years of returns, are there lenders who will take the average of the 2 years, so how does that work?

Assuming T12 has a 14% vacancy/non-payment (trailing 12 mos National Average) and rents are increasing just ~2% a year... even IF you drop vacancy to 7%, it would be VERY hard to see you closing more than 9% of that gap in Yr.1.   

Download the SF Handbook 4000.1 starting at the bottom of page 144.A Borrower may be eligible to obtain another FHA-insured Mortgage without being required to sell an existing Property covered by an FHA-insured Mortgage if the Borrower is:• relocating or has relocated for an employment-related reason; and• establishing or has established a new Principal Residence in an area more than 100 miles from the Borrower’s current Principal Residence.