It might be payment notices are going to a different address and it is simply overlooked. 

If it doesn't, can you still make the payments?  

The appraisal district shortly thereafter corrected the tax allotment “anomaly” between the two lots, but the investor never made a tax payment and eventually lost the lot to a tax foreclosure.  

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Several have mentioned utilizing low down payment second home loans for qualifying.

I have been digesting all things Real Estate so right now I am working to lower my DTI while saving at least 6-7% for the Owner Occupant down payment (to include closing cost, etc.).

I finally understand that credit card payments are exempt from needing to send 1099's.

They are short term loans, usually 6-12 months, high rate, interest only payments. 

Try to put a bigger down payment in than you might need to give yourself some breathing room.2.

@Andrew Lanoie I apologize for my remark.But our investment is 40 times the monthly payment.