They are able to make as many payments as they'd like throughout the month if that's better for them but they will need to make their payments for the current month in the previous month so that their balance is paid in full by the due date.

The PM business is not an easy business and most have fair fees for the work that's required.  

Perhaps supply and demand were so out of whack before 2020 that 450,000 less people still isn't enough to create a balanced market? 

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

With your Fico and down payment, all you need to do is make sure you pass the debt to income requirements. 

These are all important considerations, and understanding the requirements can save a lot of headaches down the road.

If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Often times police departments have policies in place REQUIRING officers to activate body cameras when interacting with the public.

Real estate requires cash, that's why it's called in-vesting.