On my first multi-family deal I didn't walk the property prior to the closing and when I got the keys to the property after closing I realized a few things weren't done the seller had agreed to do that were listed in the final contract.A few things weren't done: windows were supposed to be caulked, the front hand rail was supposed to be secured so it didn't wobble, the two vacant rentals were not broom ready and were a gross mess, etc.I was ignorant to the fact that I needed to verify repairs were completed properly prior to closing.

I ended up buying a piece of property a few months after I graduated down here in Connecticut, and while most people will tell you that you need 2 years of verifiable income, this requirement can be waived if you can prove that you have been a student and that you have a job offer.The truth is you will definitely need some verifiable income beyond what the rental property would generate.

An inspector actually came to her house to spot check and verify. 

I would also have to verify the thoroughness of the building inspector.

I am self-employed and also work in the restaurant world, which gives me plenty of disposable income and cash flow, however, it cannot be verified for long term as I just started my business this year and I move around often changing restaurant jobs.

I only count verifiable income and their most recent w2 and paystub should show this. 

In addition, I strongly recommend that you verify all licenses and Insurance Policies. 1.

You will still need to call references and verify employment.  

Have you talked to property managers in the area that have verified you can charge that number for rent and then add all those extra fees along with it? 

Personally, if I were you, I would bring a partner to the deal who has verifiable experience doing at least a couple flips.