Blanket statements about S8 being all good/bad is oversimplifying the issue: it’s simply another means of tenants’ paying their rent and should be considered independent of the formal, written rental qualification standards every landlord/PM should have outlined well before they start showing rental units. 

Would for sure get legal and CPA involved in this discussion, as it can have legal and tax implications.For the sake of general info though... on the basic end for what you're describing you could do a foreign qualification in Illinois, which at a base level means that you're operating in the state, but headquartered elsewhere.

The challenges will be the recent tightening of qualification standards, but if you've got some reserves, proof of decent income, and a credit score above 700, you should be fine. 

Maybe have some sort of special qualification to show that all of their properties meet or exceed a specific checklist of predetermined updates to the property.

We are seeing mortgage min qualifications being raised. 

Of what I read you have to be vary very careful to meet all of the qualifications.

If this is an investment property, will the lender look at the cash-flow to determine qualification? 

Because I was a full time student I have only made $7,000 yearly and will not be able to be approved for such a big loan but my boyfriend does have the qualifications to receive the loan for the duplex but can only invest $20,000. 

That means, that many people need to stick with their original temporary financing until they meet the qualifications from an income standpoint.

If there's a qualification issue with the property or the borrower - that's something else.