What you need to look for is a market that is growing in population and jobs and gas beneficial landlord laws. 

If you now want to or have to sell, you need proper documentation from your purchase, you may have an uncooperative original seller, maybe you didn’t get title insurance and there is a problem and so on.

You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.

It's a line item on the closing documents.

Legal Requirements and Loan Documents: Do I need a lawyer when I do an agency loan?

.), but it's WAY less document intensive than a conventional loan. 

However, if they are still considered a short-term guest under lodging rules, you may have more flexibility, though the specifics can depend on local regulations in Seattle.Since this can become a legal gray area, I recommend documenting all agreements, payments, and communication with the guest.

LLCs tend to be beneficial for financing options if using hard money as it can be required depending on the program.

If you are serious about finding the deals having a system to prospect and follow up has proved to be beneficial.

I imagine a T-6 is just a Trailing 6 month table that shows our rents, expenses all fully tabulated and organized into a summary table, but having a hard time finding documentation online to support that.