I like it more than others because the prospective tenants can upload all of their docs into the system and it auto checks things and auto emails their recommendations to confirm. 

If the pluming is working and there are no leaks in the roof then I don't replace them.

I'm thinking that repairing the plumbing leaks and getting the soil dried out could be a permanent solution.   

Before I jump into the cash required to operate which isn't given enough attention by most investors there are additional fee related questions a borrower should ask any prospective lender: Are the 3 points inclusive of loan doc prep?

its very easy.. tehre are 35 states that do NOT require any license to do NON owner occupied loans.. very simple  talk to local attorney have them prep your note and mortgage and your good to go.. should not cost more that 1k or so for the docs..

If you get front loading units tell each tenant not to overload the washer because it will cause the seal to give and make the unit leak.

True story, I know an investor that bought a condo without reading the docs that he had intended to use as a rental and had to hold it for a year before he could do so.I've novated two condos and both times it worked out really well.

If not, then I'd explore a line of credit, but that will also be a full doc qualification and you'd still have that variable interest rate.

We've installed the Moen leak detection device, which detects leaks both hot water and cold water, and monitors water usage and gives you weekly reports.

With a backup plan, and proper (extensive) legal docs, much of the risk can be mitigated.