Then it is time to invest in real estate.There are other legs to the three legged income stool… appreciation, and mortgage pay down.  

The extra five months of rent income would have covered 50% of the renovation and saved me a lot of time and struggle.

Also, what is the monthly gross rental income that this property achieves? 

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%.

Is my rental income from an Idaho property subject to Idaho state income tax?

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.  

That said, it is COMPLETELY different from the beachfront condo area in both guest characteristics and overall potential. 3) My personal opinion (based on years of on the ground experience in the area as a living breathing owner and manager) - 2b/2b have the lowest per sq ft income potential. 3b+ units do better as do STUDIOS!!! 

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?