Bottom line is that any consideration you receive for the property you sell represents gain and you'll recognize tax on the profit. 

Bottom line, if you want in the game you will have a situation when it's owner-occupied that you live very cheap but not free (ie 400-700/month), when you move out you will have very modest to even cash flow for the first few years. 

However,  some of them  -not all-  push products many investors don't need and fail to explain the real risks they will be facing. 

Overdraft is basically a line of credit attached to the account. 

The most common way to reduce closing costs is to have offered $Xk more for the property, and ask the seller for $Xk in seller credits towards closing costs, or just get the seller to pay for certain line items. 

@Nick MulliganI used FHA.... the PMI is an expense but down the line can refi out of the FHA loan. ideally plan on living next to your tenants and know what tenant class you are getting into 

Ask yourself how much money you're willing to put on the line to get $100/month back. 

Treat it like a line of credit, the amount will obviously be rising.

We parlayed up until we have a nice, paid for home and now use the line of credit on it to buy flips.

Here's my experience with these things:We had a tenant flood a house trying to install a water heater pressure relief drain line.