They make things way too difficult compared to a simpler, DSCR solution.The type of lender also plays a large role here. 

You're developing plays at the collegiate level, but you haven't even played a pickup game with your buddies to see if you like the game or are any good at it.

4) Due to all of the above, high chance they start playing games with other tenants, leading to bigger problems.5) What happens if you have to part ways?

I'd look at when the next unit lease expires and you can either...Delay closing until it's expired and vacantGive them another offer that's less enticing to not deliver the unit vacantWhen it has to do with financing the playing field is pretty level, every buyer will be able to get more competitive with a vacant unit

Remote ownership will be my primary play as I want to keep living in SoCal. 

Thats what I would do next and you can really just see what the numbers tell you (and look at different rate/refinance scenarios how it would play out in the next few years)

Fast decision-making played a crucial role in this successful deal.

A second shockwave to housing cannot be supported unless we dip below 3.7% unemployment and the median income: house price gets back closer to 6.33 or sub.I think the rates actually show how it'll play out-- a near term dip, a long term buy.

Ultimately, location and demand will play a big role in how it performs.

I look it over and purchase it and authorize them to pick it up.