Came across the area from a co worker as an out of state investor and realized that certain areas are able to hit the 1% rental target easily.

Your options in this case are to:Decline their application.Accept them without references and take the risk, assuming everything else about them is stellar.Require a co-signer.Require an additional security deposit if that is allowed in your specific state.The option many landlords choose is No. 2: Accept them without references, asking for an additional security deposit.

Alterations to the original building plans, however small, can create risks.In a nearby county, they have inspectors going around town to check for any unauthorized alterations, A co-worker had an old window AC, his wife was tired of not able to open and use that window, opted to buy a through the wall AC.

Long term rentals are tough to cash flow unless I implement a co-living / rent-by-the-room strategy, which I've done before, but I'd prefer to not do again. 

As a beginner, you can learn a lot from your uncle with a few rentals in another state or a co-worker who's on their second house hack.

Should I consider getting a co-signer, and how would banks treat potential rental income?

Here’s what a 'co-ownership consultation' would look like:- We review an active listing of your choice to:- Build a cost-of-co-ownership model for the property which includes:- Individual ownership and ongoing cost assumptions- Modeling potential rental income for short-term rentals- Modeling financial outcomes from various exit scenarios- Tax benefits and considerations of shared homeownership- Pros/cons of different ownership structures (joint tenancy, LLC, tenants in common, etc)- Talk through the legal agreements (I am not a lawyer and this is not legal advice but I do have extensive knowledge about TIC and other co-ownership agreements)- Briefly discuss some of the ways AI is making the work that goes into successfully managing a shared home easierIf you're interested, here's what I'm asking:- You’re a U.S. citizen or permanent resident interested in co-owning in the U.S.- You choose a property that’s actively listed and something you'd realistically be interested in co-owningShoot me a message if you're interested and open to 30ish minute chat.Thanks!

Depending on the property's location, it could perform very well as a co-living asset (3x of a traditional rental).

If a co-tenant moves out, it is YOUR responsibility to ensure the lease is updated. 

At this level of knowledge and experience you need to be a co-agent and learning the ropes of things under an experienced person who can guide things.