I’m gonna be totally honest with you, it’s extremely hard if not impossible to replace a full time 40 hour a week with rental income at least in the shorter, it’s the type of thing that helps you retire a little early and have a buffer in retirement, my grandmother has been in poor heath for years, those properties have allowed us to give her the best care possible, if you don’t already own a home and feel comfortable with your budget and the ability to live in that house for  at least a few years, I’d get started on that don’t even need to over complicate it, find a budget, find a house you like and can see yourself in at least for the medium term buy it. 

If you have equity, income and good credit, any lender will do this.

Two weeks back I sent them a communication about our intent to renew the annual lease at a higher rent that matches the current market rate starting 60 days after the note.

There is a means test for income and equity.

I understand that passive losses cannot reduce your taxable income and must be rolled over to be subtracted from future passive income, UNLESS you meet the special allowance that says you may deduct up to $25k in passive losses from taxable income if your modified AGI is less than $100k that year.

I would focus on screening your tenants for background, credit, and income to try to avoid an eviction and excessive damage to your property to minimize your turnover expenses and vacancy loss.  

I've done annual increases as my costs go up through higher taxes and other things. 

And you could still give the seller a floating purchase price using an option simply by tying the future sales price to the then appraised value, or FMV minus 10%, or a fixed price today with a 5% uptick annually until you exercise the option.

MHPs are income stream investments and valued as such. 

Are there lenders who will consider my past str track record when determining Debt-To-Income ratio in regards to turning my current house into an income producing property?