I created my own property analysis spreadsheet to learn the math and have practiced the analysis on several properties.

I put the math on paper in a way that makes sense to her.  

@Robert Richardson see below link that explains the new rules on this, but with a down payment under 10% on FHA, it looks like you are stuck with MIP. http://www.fhahandbook.com/blog/do-fha-loans-require-pmi/Before you rush to refinance, do the math and see how the numbers compare.

The other thing would be to double check your math, are you overestimating expenses?

Second question is, if you plan on keeping it as a rental after, have you done the math?

If you're like me and enjoy math, I'm sure by now you've realized that paying 50% of the monthly rent rate every 2 weeks means you get 3 payments in a month every 3 months or so (i.e. the "extra Friday"). 

In particular, I'm looking to familiarize myself with the terms, risks, math and finer details of being a passive investor in real estate syndicates.

This has real value because there are ways that you could monetize this e.g. by searching for deals that others ultimately buy or by writing content2) Alignment with education - if you practice underwriting deals for example you will be employing math, analytic skills, use of Microsoft excel etc.

I feel ~40-50% of you mortgage only (not property taxes) can be paid by the tenants.Edit: Here is my math - $0.8M loan on a $1M house, - total cost of loan ~$1.4M over the term (30 years)- rent, $1500 per month with 2% rent increase - your rental income will be $0.7M which will pay off 50% of your total loan cost

Do the math - calculate the cost and potential revenue as a hotel and cost and potential revenue as a long term rental3.