I am not aware of any free programs that let you know this information.

You are misreading the FHA owner occupied guidelines if you think it says you can use the FHA loan program to buy a SFR as a primary residence and live there for 12 months and then convert it to a rental.  

Its just knowing which ones to use to get what you want and what the pro's and con's are between each product given the goals you're trying to accomplish.A lot of bankers and independents in socal broker to TCF like Chris mentions above.I've had good experience getting rental income to be used in similar context to the above mentioned.The formula is simple for rentals that dont yet show up on your tax return its 75% of gross income minus PITIA (principal/interest/taxes/insurance/assessments) to arrive at your net income figure that will either be added to your income column if its positive or a liability to be qualified for if its negative.In cases where you just want to do a cash out refinance loan you could use 1 year tax program with Freddie Mac to avoid having to average both your 2015 and 2014 which causes more paperwork and more things for an underwriter to sift through and demand verifications and documentation on.The nice part about using a 1 year tax program for self employment or realtor income (in your case) is that since there is only 1 year tax for your self employment we only need to use 1 year tax income on your rentals  as well which is a little known secret in the residential conventional lending world.This is great when you have a great 2015 or past return but your 2014 or 2 year ago return was not as good.

I am a graduating student from Ryerson Universities Urban and Regional Planning Program and my time here has ignited a passion for the real estate investment industry.

I create my own webpages so I only need the raw host, installed cgi programs and email to work. 

Of course the first solution by a bank is "Give me more money" as that is what they are programmed to do in what benefits them the most first.I never do interest only on properties to make debt service work.

I graduated in construction's trades program in 2000. used to work for a construction company for many years. so I knew that I would eventually be buying houses to flip, or sell.

1/7/2016  Wesley - thanks for the post and  creating some good thinking ..... if you are desiring to  purchase a  primary home ....its  likely to not  get any less expensive in the  future ....so if you are waiting for  prices to come down - this might be a long wait .....if  you buy a condo  and  want to use a FHA loan  to minimize the  down payment - be aware that  the condo complex will need to be FHA approved  ( not many are any longer ) ...that being said there are  some conventional loan programs  that allow as little as 3% down . 

By the way, there are programs I think you're aware of where the bank does a 100% loan to the buyer.  

From Marketplace last month:http://www.marketplace.org/2015/12/01/wealth-poverty/long-wait-section-8I am interested to hear if anyone has experience with municipalities that offer better assistance to landlords and rehabbers who intend to rent to tenants in the Section 8 program?