They are expensive and provide slim value. 

If feels like it was supposed to go to Beta for testing and someone deployed it by mistake.

You will need a soil test, you will have to complete and file a plat map subdividing the land, you will have to make sure the septic systems are not too close to drinking water or other properties, etc. 

The deal is already too slim to begin with as your maintenance and capex are likely too low in your initial projections and generates little cash flow.  

No offense taken, but as mentioned in my post, I'm testing out my theory.

Stephanie,If you own your residence thru FHA, then the probabilities of qualifying for a rental property thru FHA are slim to none.If you don’t own a residence yet, then you can buy the duplex with FHA loan 3.5% down which is close to what you have now, live one half and rent the other half and have a cash flow of $200-$300.A duplex is a better investment and is easier to sell than a condo at least here in Fort Worth.

They should catch most of the issues a tenant is likely to complain about.If you're not wanting to pay someone, you should be able to identify most issues yourself by testing all the moving parts of a house.

That's a rather slim list of options! 

The players are less tested, the reporting requirements less rigorous- so the risks are higher.

Many of them are DSCR-based, and at the MLS price it may not pass the DSCR test.