FHA can have some high fee's with the upfront mortgage insurance and the annual mortgage insurance that never falls off. 

@Henry Wolfe They're out there, just have to look.

Use 3% rent growth compounded annually for 10 years rents grow to $1344.

@Scott Wolf thanks for your input Mr.

Dad builds a 1800 sf SFR for $50k in materials annually.  

If so, they will be filing their own tax returns and sending you annual forms K-1.

@Derek Persuit. keep the $500 bucks in your pocket as part of your annual maintenance expenses. 

Try to avoid double data entry and pull reports by month, quarter and annually.

Unfortunately, it appears that Fannie Mae has taken notice. 6/5/19 - Upcoming HomeReady Updates.Currently, to be eligible for a HomeReady loan, the borrowers' total annual qualifying income may not exceed 100% of the area median income (AMI) for the property's location.

How ACTIVE do you want to be in your investments and how much CASH FLOW annually are you seeking?