I'm wondering, is this not a major problem for landlords if no further applicants are getting approved for vouchers?

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

There are a few areas (like mine) where a closet is considered a requirement, but it isn't actually a major thing across the country.Having said all that, I don't think a non-qualifying bedroom can't be listed as a bedroom in the listings on VRBO and AirBNB. 

I suspect without money and active participation as LP, you cannot legally do what you suggest.Have you seen the underwriting?  

Horse stable in the middle of LA, 20 acres 1/2 swamp next to major airport in Florida, church with 6 acres in the middle of town, contact bank Trust departments and let them know you want to buy.  

The key is finding out what the seller wants as far as terms but the majority just want a quick close with the highest price. 

I saw an offer like this one recently with a Navy Federal bank statement that "had $700K" in the bank and it seemed legit.. but the LLC wasn't active with the state and they had assignment of contract language all over it.

The tenant pools are great, as we are the State capital, we have two MAJOR hospitals, government jobs, large developments happening (out-of-state union workers), MSU, Lansing Community College, and so on. 

I used Stacey Lancaster (she's pretty active on Bigger Pockets) and she was fantastic. 10/10 would recommend to a friend.

go to Home Depot, talk to some general contractors, join your local Facebook and meetup groups and start getting good ranges for every major item.