Full search, perhaps additional risk premium.

I agreed to review existing report, in addition to getting my own inspection done by an inspector I trust.

Thus if it is one month's rent lease up fee, and you expect the property to turn every 3 years, then divide that amount into 36 months, and add it to your other expected costs. 

This conversion was done without proper permitting and approvals from the city and obviously the additional bedrooms are not showing in the county records.

In addition, if you chat with an attorney, you can start to get yourself familiar with the rental laws now, before you come upon a situation where you need to know where you legally stand and what your rights are as a landlord.

Because in addition to the less stringent seasoning requirements, a lot of these local banks will allow you to put the loan under an LLC name, and you give an unlimited personal guarantee (also known as a contingent liability). 

Additionally, because I am recently a 1099 employee, I don't qualify for conventional mortgages or FHA loans, so the appeal of house hacking isn't as applicable here.

In addition to running the screening report, on your online application request previous landlord's phone numbers as well as their number for their place of employment.

If you need additional resources, please let me know.

It literally takes an additional 5 secs to email the created invoice to the tenants.