OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.

Thanks @Nathan Gesner I admit is seems odd that we couldn't require a SS#. 

Do have an idea of your preferred acquisition price and how much rehab might be required? 

There are some home loan options that require as little as 3.5% or even 0% down.

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property. 

Hi Thu, I have not purchased any properties that require permitting yet.

NYC apartments will have a different car requirement from Orlando, but he used that methodology in this specific small city and was an investor from the 1980s-2000s, so a lot has changed, but I believe there is still some truth to it.

As for income verification, I require the applicants two most recent paystubs and if self employed I need their most recent tax return.

It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

My suggestion is to simply file the BOI requirement.