That being said, I don't think the bank is going to be sending folks to peep through your window to confirm you live there... but you obviously still shouldn't do anything misleading, hypothetical or not :) If you have utilities or some bills in your name headed to that address, that would adequately show a proof of residence to some capacity. 

Can be structured in a way that you retain maximum flexibility in ability to refinance, sell notes, or utilize as colterol for future endeavors etc etc.. 

I would recommend doing your research and finding a company that has great reviews or try and get a recommendations from owners who utilize PM companies in the Colorado Springs area.

Utilize tools like BiggerPockets Rental Property Calculator and connect with local investors.

Consider utilities, internet, landscaping, and other expenses.

I would ensure utilities are transferred out of your name also.

If not, your case may be difficult to prove.They should take responsibility for the lawn, security, and utility abuse.

In our24 years of experience, managing almost 100 S8 leases currently, the average S8 tenant has a FICO under 580, numerous collections from utility & cell phone companies, doesn't want to pay a security deposit, much less an application fee and claims they don't know how to fill out their S8 paperwork despite being in the program for several years - hint: they want YOU to do it for them.Most, not all, are eligible for government assistance due to a funeral-march of bad choices.REALITY: you are trust trading one set of problems for another.You can succeed with S8, but you need to understand the challenges and plan accordingly.

Rents were higher weekly, than if they paid monthly. 25 units in Knoxville, TN with a mix of cottages, duplexes and a six unit efficiency.We converted it to monthly renters, lowered expenses, billed back utilities  to the residents.

Also if he is just taking PITI into the equation, he is missing/withholding info about utility costs, stocking/supply costs, cleaning costs, etc.