I think partnering with a company that knows the local market is vital in putting you in a good situation to succeed. 

I was recently fined summons that a 4 family unit that was built in 1952 with 2 electrical meters must have 5 meters for each floor including a landlord's meter, 2 additional boilers, 2 water heaters etc...The strange thing is the home has been in the same condition since it was built, no modifications and the utilities have been in our the landlord's name for over 10 years. 

Keeping that track record/reputation strong is so vital to a sponsor's continual growth. 

This piece is a vital part of our cattle operation.

This piece is a vital part of our cattle operation.

The walls have been cut to widen and other modifications made to accommodate.

Having skin in the game is vital to your success.

Knowing how to screen tenants and setting up your process is vital and you can search past threads for that.

Additionally, even if that obstacle is overcome, say the lender requires a lender required repair.....the deal will not close as HUD forbids any modification to the property prior to closing

If they need modifications they are to pay for them (and pay to have them undone when they move out).Once the work is done and they are happy they will be more "sticky," less likely to move out.