@Reyna AyalaI personally feel this is overkill.

During this 24-month period, the property must be rented to another person at a fair market rental value.After the 24 month period your sibling could convert it into a primary residence.

No problem, I had cash from a refi, a HELOC, and a personal LOC.

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%.

Did you have to jump through so many hoops and provide this level of personal information?

I am days/weeks away from trying it at my personal residence.  3500 sqft but only two people using it, so not sure how good of a test it will be. 

@William Taylor so many options...Use your RE knowledge to: WholesaleFind rental deals to sell to investors locally or here on BPStart leveraging your personal contacts to build your sales businessFind a motivated seller willing to do seller financing:- Move in worst room or basement, rent out all the other rooms for max cashflow- You could even live in the basement and STR the rest of the house

I’m personally based in Houston, TX, and I’ve noticed over the years that a good realtor can do a lot more for an investor than just listing a property.

I have personally owned investment property (both long-term and short-term rentals) along the lakeshore.

Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.