Your last two years are averaged to give you the 24 month avg net rental income that you can use as additional income on your application.Hopefully that makes sense.

The house is a multi family home built in 1900, 4 beds/2 baths, 4,000 sq ft lot, 1,500 sq ft, was last sold for $69,000 in 2003 and currently has an estimated value of $79k. 

Highly recommend Joe Fairless' meetup that he holds in Deer Park the last Tuesday of every month.  

Hopefully this will allow it to appreciate more than a "townhome"The way I calculated the rent was with a  comparative market analysis so similar townhomes on the same street built last year with like 50 square foot more were leased for 1500.

For example if you wanted to purchase multi families for cashflow: You could quickly check sales of duplexes/fourplexes etc. in the last 6 months to get a feel for ARV's.

My first fix and flip just went under contract last week and is being inspected today. 

If you aren't licensed, as an agent to give you comps of duplexes, within 5 miles of your address, in the same city as your address, with no shared utilities, that have rented for $1100-$1300 in the last 6 months.

I am a 25 year old South Denver native and have worked as a carpenter for my fathers residential remodeling company on and off for the last 10 years (throughout High School and College), since graduating college I have become increasingly interested in the business side of residential homes and have therefore been a licensed Realtor for 18 months now.

I'm happy to tell you about my experience as a full time investor over the last 4 years.  

NOI for last year was 70,000.