I've read that I should open a business savings and checking at a local institution - particularly for the security deposits.  

Many lenders will require a 12 month lease to be in place along with the security deposit and first month rent collected. 

If you secure the automotive window tinting job with a consistent salary of $60k-$70k, that should satisfy most lenders as long as you can show steady pay stubs.

The buyer also has the risk that the seller will sue him if such does occur and the buyer is unable to retire the note.The risk for the seller has to do with the fact that the seller is liable for a note secured by a property he no longer owns.

I believe I can demonstrate that the property was originally used as a two-unit dwelling, which could strengthen my case.I want to ensure this deal is still viable and that securing the proper permits is realistic, as my financial projections are based on this being a multifamily property.

Even though this wouldnt be purchase money financing, ultimately your loan would be secured by a dwelling, rather than by real property owned by a commercial entity for transactional purposes.

It also means that your renters will want to vet their subletters carefully to ensure they get their security deposits back, etc.

@Carl Rowles we screen all tenants exactly the same, but know several of our local competitors cut corners to attract more S8 applicants - waiving application fees, security deposits, etc.You can try to weed out applicants that have poor "house maintenance" skills by doing surprise zoom calls and asking them to show you their kitchen, bathroom and another room.

I like the added security with doorman and onsite maintenance but know the assessments can be high.

I'm eager to see you evidence that 50% of the population receives social welfare programs excluding Social Security and Medicare.