There is a very slim chance I will actually live there, but the possibility of being able to makes me want to take on this deal myself.

Thinking my chances were slim, it was shocked to get a call from him about 2 weeks later. 

Because I would be living in a unit I essentially won't have to pay a mortgage, so the slim margin will be fine for my purposes.Obviously I don't expect any in-depth advice based on my property because I haven't  given much info on the area or building itself.

The margins are a bit slim IMO to throw all your savings and family money at this thing. 

They figure I will buy and figure it out as I go...In flying we call that building the plane while your in the air, the chances of not becoming a smoking hole in the ground is slim to none.

One because I am new to the industry so my contacts are slim and two because the homes that are being sent to me do not come close to meeting the 70% rule.  

Can it be done yes but your chances are pretty slim.

If they still fill out an application with too little income, it gets rejected.If they don't stand there and fill out an application, the odds of ever seeing them again are very slim.

I wanted to quitclaim my properties into an LLC and both the lenders and the attorney said that while the chances of it happening are very slim, it is possible that the due-on-sale clause could be triggered if I do this.

This looks like a pretty good deal to me, too, even with the slim cash flow for the next four years.