This is the form any lender should use to calculate you income (ignore the branding, it is the same for every lender):   https://www.biggerpockets.com/forums/49/topics/1224525-fha-l...You will see what you can add back from your 1120 based on the % of your ownership. 

Now this property is in a class C neighborhood with a calculated 11% cap rate estimated.

SDE is calculated by taking the net income and then adding back certain expenses, such as the owner’s salary and non-cash expenses like depreciation and amortization.

For FHA, I would ask your lender to confirm that they considered the 100 mile rule in calculating DTI.

Use the BP Calculator to get a better idea on your costs.

How about realizing that when you use the current property taxes of a property you are buying to calculate your per door profit that the following year your taxes will reset to what YOU paid for the property and will likely significantly increase your tax expense - which can take you from a positive cash flow to a negative cash flow on a low cash flow property… now you are paying your tenants to live in the property every month out of your W2 income  hoping for an appreciation play until rents hopefully increase.I could go on and on.  

A solid agent can help you calculate ARV, manage inspections and contractor connections— get quotes and coordinate handymen and vendors post close, provide shopping lists and software suggestions for management or STR furnishing, etc. 

Note this calculation gets worse if you recognize the declining value of currency.  

Utilize tools like BiggerPockets for resources and calculators, and consider creating a simple spreadsheet to track property details, budgets, and timelines.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.