Is there a "rule of thumb" regarding a ratio of income you should get from a rental property versus how much a mortgage payment is on that property.  

However, if my understanding is correct, we could actually sell, without the time constraint and rules of a 1031 and still not have to pay taxes on the event, because of the fact we occupied the property as our primary residence two out of the past five years.

Currently Seeking:Mentors and advisors I can assist by providing admin or legwork support to free up their time.

Also don't be concerned about the 2% rule or the 1% rule or any other rules. 

I assume for some deals and strategies there's a big enough margin to cover all but I'm curious if there's a rule or something.I'm a licensed agent and there hasn't been a time where my buyer's have had to bring money to the table, and that's one of their biggest requests.

The selling agent said that he would have sold this house ten times over already if not for this rule. 

However, the trade off is you have to follow their rules, qualifications, and timelines. 

I don't think the area can support more than what I'm already charging (which hasn't gone up at all in two years)

Thank you for the support. 

Treat it as a business and let the tenants know that you will enforce every rule in the lease.