Sure, but it's called creative financing which of course we teach, and in my humble opinion requires someone who knows what they are doing to properly put it together.  

Thus, the next challenge and frontier for many DSCR lenders seeking to serve the growing number of real estate investors pursuing this strategy is to cement a qualification and underwriting methodology to properly qualify MTRs and accurately project their revenues.

I’m looking for advice on how to do this properly. 

Be wary of TX property tax as it is very expensive and can impact cash flow if not factored properly.

If they are on a month-to-month lease, just terminate her tenancy with proper notice. 

You can't just always convert an old garage....for example the existing slab must have the proper PSI, vapor barrier, and steel.

Of course, there are a lot of things to look out for...setting up an appropriate contingency reserve for unexpecteds, getting an accurate scope of work, properly knowing what your time-value-of-money costs are going to be, making sure you're contractor is not pulling crews for other customers, knowing codes and getting your permitting right, and the list goes on.

Avoid properties on main streets (traffic noise, avoid homes near freeways (smog/traffic noise), avoid homes without garages if most other homes have garages, avoid being in airport flight paths, avoid over building or over rehabbing for the area comps, know how to properly and accurately estimate ARv and rehab costs, and have money lined up in advance.

Might be you're not set up properly to obtain a separate account. 

Fully Renovated Turnkey Cash-Flow Investment PropertyRental property's income at least 1% of the purchase price.Continuous profit with little hassle.45 minute commute to the state most vibrant city Greenville and the state vibrant capital Columbia South Carolina.Nordson Industrial Coating Systems (ICS) is establishing their newest manufacturing facility with an investment of $30 million.