I mean we could just use 75% of gross - PITIA for now but when you get your tax returns in on an application you might get a completely different answer.It looks like your DTI will be low if you file both properties in a way that will net positive income from a lending point of view.You'll have the ability to qualify for about 230k in loan approx assuming all rental properties "net zero," income from a qualification perspective (most conservative calculation).

Also see @Chris Clothier's BP Post on 20 Questions to Ask Before Hiring Property ManagementA few comments/questions (perhaps from a PM perspective):Most (all?)

The best way to invest in real estate from your perspective is a hands-off approach.

This is #1 for this model in Indy. if it goes well I can see a lot of deals due to good wholesaler network and my team on the ground from a rehab/rent perspective.

If you a selling the property then a fresh coat of paint can go a long way.  

For a buyer or perspective buyer, maybe a little overkill.That's my $.02.

From a management perspective.

The problem with California is, is that it is to expensive to buy and probably rent, I'm talking on a homeowner/renter perspective not an investor, when it gets like that people and business's start to leave and look for more affordable places, such as Indy or the Midwest. 

Just offering a perspective to consider.

They also operate in Southern Sudan.Aya Bakery (U) LtdThe largest commercial bakery in Uganda, the company supplies fresh bakery products daily to Kampala and central Uganda.Hilton Hotel a landmark in KampalaLast decade, you ventured into hotels and are setting up Hilton Hotel, one of the most visible landmarks in Kampala.