@Cory Carrigan there is nothing special that I am aware of relating to PA that causes you to automatically pay ordinary income tax rather than capital gains if you are real estate agents and have a property held for investment (longer term intentions with a long-term holding period, and not a dealer that rehabs where the holding period is short-term).  

That just leaves the question of how the rent gets paid to you, which setting it up for automatic payment would solve. 

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The answer for removing that mortgage insurance is it depends...Fannie rule here for automatic when the LTV of original hits  https://servicing-guide.fannie...Fannie rule here for requesting removal based on substantive improvements https://singlefamily.fanniemae...You pay for appraisal, maybe start with your own BPO they inspect.

I might be missing something without the whole story but my understanding is since your FHA loan predates 2013 when they made the MIP permanent your MIP should automatically cancel after 60 months and your LTV would have to be at 78% of the appraised value when you purchased it. 

For example, Vandalism & Malicious Mischief is an endorsement (add-on) with many DP1 insurance policies, and is not always automatically included.

Enter recurring charges and automatic late fees.

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Those who held up their placard on the minimum bid were incremented automatically but it didn't matter because if there were multiple bidders it always went higher.

But since the sale price was more than 100% of the recent sale FHA automatically orders a second interior appraisal.