IMHO it is literally the easiest way for “the common person” to build immense wealth.

A personal residence is an asset by the most common definition. 

@Tanner Sortillo- thanks - I would have the new investor get a solid idea of financing options and for them to get formally pre-approved for a hypothetical scenario. 

If you plan on buying investment properties in the future or after this scenario DSCR would be a good fit as well again No tax returns or personal income required.Lastly Non/QM also offers a program called "Bank Statements" for self employed buyers and it will allow the use of "Cannabis" income. 

Yeah, that commonly happen.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

Terms for the seller 2nd have generally been 5%, interest only, 5 years.I'm only considering properties under this scenario that cashflow well immediately, in addition to having a strong value-add element.

I think so, however the common areas, including exterior, would need to be Lead Free as well.

From a rental perspective things are definitely taking a bit longer to rent and it's becoming more common to see concessions than 1-3 years ago.

The likely scenario is that your PM is not very good or lazy and held it because they don't know how to market properly.