Here are some things to look out for to help you know who to take advice from when you are just starting out:(Note: There are exceptions to every rule.

Does this mean they're technically violating lending rules/regulations by not informing the lender that the property will be sourced as a rent-by-the-room asset? 

I have a Wynd sensor in my units (mention that we have it and it's 99.9% accurate in our emails), put it in my house rules that it is a $250 fine, and have a sign small above the detector with the same language.

If you refinance too soon after your 1031 exchange, the IRS could see it as a way to sidestep the rules and potentially tax it.

Budgeting: Many landlords use the 50 percent rule, which means that 50 percent of your rental income should go to covering fixed and variable expenses, other than the mortgage.4.

Property taxes and insurance can vary wildly depending on the location in SC - there really isn't a rule of thumb or generic figure that can be used. 

FHA and conventional loans are available for such for non-permanent residents, but there are quite a few rules so I can't be sure you'd qualify without talking further.

And how is texas fourth worst?

I suggest you understand the 50% rule.  

Fourth, the tenant may eventually reach a point where they can't afford the increases and will get behind on rent, stop paying rent, or leave.Show them some examples of comparable homes.