@Gerorge Bailey Yes that will cover your 2 year history of employment.

I'm about to close on my first house and the roof needs work. 

I'll get the roof checked out during the inspection.Here are the numbers:Purchase Price - $191,000Comps - $195,000 - $205,000Taxes - $2302Insurance - $950Utlities  - $0 (tenants responsiblity)Total Monthly  - $1050Rent - $1650-$1800 - I'm thinking closer to $1,700.Total cash flow = $650With vacancy reserves, I'm looking at close to $500 cash flow monthly.

To piggy back on what Mike said, if this is an illegal 4 plex, section 8 will not cover a unit that is not registered with the tax assessor, so that will make renting the unit much tougher.  

I think this building has deferred maintenance (roof leaks into the foyer when it rains, parking lot has not been striped in a while, I assume more will be found).

your issue is not one of money, its one of priorities. your tenant no longer prioritizes rent, because you have allowed your agent to deliver the message that rent does not need to come first. when the tenant knows her roof is on the line, she will let other bills fall to the side in favor of rent. 

My current agent said that they would only cover 4 rentals. 

It's enough to cover nearly any major expense or, generally, 6 mo ths PITI

If so, were permits pulled & were they installed by a professional5.Are any of the homes rented to students6.Is there a flat roof7.Are there asbestos The Year that the following were updated (either partially or fully) would be good to know:- Heating systems - Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.If you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

Anything over 50 years old they require documented proof of renovations for things like roof, hvac, wiring, and plumbing.