If you are single, look for uneven multis where you can live in a small unit and rent out the bigger one (e.g. - 1/1 and a 3/2 instead of 2/1 and 2/1)2.

The tenant who occupies the property pays the rent.

All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.

If I keep it and rent it out, I will have around $70K in equity @Guillermo Perez   Just curious on why 70% instead of 75% loan to value? 

Cold, drafty, and couldn't keep the mice out.The thing rented like crazy.

Austin, TX rents are down nearly 12% YoY.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Why not joint venture with someone who has money, fix & flip itWhy not rent it out for at least the monthly carrying costs.Why not sell it on a lease option, get 10% cash up front to fund school? 

They found a community they believed in and a lovely house that could pay for itself with the rent income.

@Sebastian Nadal for background checks, I use stessa/rent prep that’s available to us through biggerpockets tools.