If you do, could I ask how that has been going and has the rents been comparable to the payment standards advertised by the respective housing authority?

(eg, if your lot is not the standard 25 x 125, but some other multiple where the width is actually skinnier than 25, and the lenghth is longer than 125, and you want to reduce side setback requirements, eg.) 

However, if it is a purchase transaction, the deal can still get done, the deal would just need to qualify as a standard rental (lender won't know you are renting by room post-close).

Quote from @Evan Polaski: @Chris Seveney, I hadn't looked at any details on this offering into now.Things to consider from their own marketing:Operating partner has done all of 10 flips.Their entry price point is a price that I would expect any truly experienced flipper to be able to take down very easily on their ownTheir historic IRR, while high by MF standards, is average, at best, from my experience with flips, and it is unknown if this is net to LP returns.I have flipped homes myself, so am not their target investor.  

(It costs 10k+ to drain, clean, refill the pool so I only do it once an year and this is pretty standard) I think it is matter of if it looks dirty or smells bad when guests use it.

Todays standards are far different as you know..

The standard legal procedure, as far as I understand in NC is the landlord must make reasonable effort to re-rent the property (which I will), and any vacant time till new tenants are found must be paid by previous tenants.

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Best way to understand this is research appraisal standards and means. 

Reason why is because FDIC Bankers "Do Not" charge points on traditional programs like primary homes, standard investment purchase and refinance, Second home/vacation homes.Lenders, Brokers all charge points to meet their Loan officer compensation plan (commission).