Quite literally, if the rental income is equal to or greater than the PITI, it'll qualify (with some exceptions of course). 75% LTV is typical, but I have worked with lenders willing to do 80%.

Good source of active income if done well.

As long as you are not understating any type of income - and I am taking vary broad view here - - and you are not, overall, defrauding the US Treasury.  

Hi @Michael Behr,In my opinion, the rental income is way too low for this to make sense.

Section 8 people are no different than anyone else aside from income levels.

How certain are you about your rental income estimate?

with ground up construction you'll usually see 50% of the land providing 100% of the construction . no income no doc and first time investors as well  

@James Robert if you are flipping, even if you hold the property for 1yr, the profit is still taxed as ordinary income. 

Worrying about property management is small issue in comparison to letting a tenant in who faked their income and past rental history!!! 

I'm not looking to self manage for a while because I need to get a one year lease on this property for my personal debt to income ratio in another primary house.