New entity argues that property should be "forever discharged", or wiped clean of all interests, because the HOA winner did not intervene in the bank foreclosure.5.

Consumer lenders generally do not use potential rent because there is no assurance you will get that rent or even when you will get it.  

If worse comes to worse, in which they stay forever.

I would like to buy it because I know no matter what I will always be able to find a tenant if the current tenant doesn’t want to stay forever.

Good news - your mind is elastic.Or have kids and you will forever forget about control and perfection.

And im forever grateful for that opportunity.

The Real Estate Act was put in place to protect the consumer from Realtors so it is strict.

NOTE:  You are not required to use the rental income to qualify but if you use any rental income you must use all rental income for that property.6,393.33/month x .39 = 2,493.40 max PITI payment6,393.33/month x .446 = 2,851.42 max PITI payment2,493.40    2,851.42  max payment-150.00      -150.00  est monthly insurance-710.75      -710.75 property taxes 1,632.65      1,990.67 maximum available for debt serviceMax price estimatates39% Housing payment 1,632.65 / 5 = $ 326,53044.6% Housing payment 1,990.67 / 5 = $398,134**The rule of thumb you should know for debt service is that every $1000 costs about $5/month (this is approximate but does include MI if the rate is low enough, your actual may vary slightly and could be as much as $5.5/month)FHA Mortgage Insurance - The Big Scary MonsterMani, you are not alone most consumers are afraid of FHA mortgage insurance but they shouldn't be afraid at all. 

Of coarse most people suffer from bdls on here .“ Brain dead landlord syndrome “ and say they want to own a rental forever not truly understanding the dynamic of the situation long term 

Even the successful flips will encounter negative feedback since you will be accused of using your superior knowledge for personal gain at the expense of the consumer/seller.