For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

We use a combination of HML and our private investor network.

So on page 6, Modern Money Mechanics: Federal Reserve Bank of Chicago, it explains that banks don't "pay out" the funds for loans from money in other depositor's accounts.

Currently, I am looking at Hemlame for local, I tried to use them for an out-of-state investment property, but the cost with an agent would end up far greater than a full-service property manager.The dream option would combine all accounting, bill pay, rent collection, provide eviction services, and maintenance coordination outside of normal hours.

However, transferring a mortgaged property to an LLC could trigger a due-on-sale clause, so consult your lender before doing so.While an LLC does not save taxes, it can make audits more straightforward and help present your rental as a business and you can combine all the hours from multiple STRS into one to meet the MP requirements.

Do you happen to have long term % of gross rent of combined maintenance/repairs/turnover costs/CapEx  ?   

That means their pricing tool is designed to price beneath the rest of the market, which drags the entire market down, especially when combined with their algorithm changes a couple years ago that made pricing (IE lower prices) the #1 factor in ranking.Even if you use an external pricing tool, it gets dragged down by the people using Airbnb's pricing. 

How we purchased our property: Combination of Savings, Personal Loan with interest from a family member (4% interest) and a cash loan from Wells at about 8%.

I suppose I could combine the two ideas and live in a basement while renting out a 2 bedroom home to a traveling agency. 

This is the “over night” success that’s taken 20 years.2 - Superior uncommon knowledge, combined with experience and capital and a willingness to take a risk (speculate).