Otherwise, I'm always open to adding more colleagues and chatting here on BP, even if it's not RE related, connections are connections!

The house also had an addition added on in the 1820's.

Some items on your Schedule E will be added back, like mortgage interest, to determine the rental income...you will want to ask some banks what numbers they add back, and that can help you project what amount of income you will have from your rentals for consideration of the loan.

I've been around the block a few times. ($50M portfolio) & I can tell you without a doubt it's a terrible idea to put a tenant in the property that cannot pay 1st months rent & an equivalent security deposit.The fact that many people you are talking to cannot afford this is actually a good thing.

Is anyone aware of any part-time opportunities where I could learn from an experienced investor and offer digital marketing expertise or other skills in return (social media, website design, ads, etc.)? 

Would someone with more experience be willing to shed some light on my mental block here? 

Lets start by stating that they have to be licensed, which is required by law including going through extensive background checks, be financially fit themselves, and go through education on laws and mortgage practice.

@Aaron Klatt Hi Aaron, thanks for the reply...to clarify...adding the 2 BR's would make my 1BR unit a 3 BR unit...I figured this was a much easier route rather than starting from scratch and adding another unit that included a kitchen, bathroom, etc.

The costs of it (int pmt/month, points) should be added to the rehab cost (it's the cost of the rehab $$$). 

To add to the issue, Goldman Sachs bought up most of the Fannie May auction pools last quarter which added to a drop in inventory and increase in pricing for remaining, available assets.