With solid credit and property have you considered just going the conventional route? 

If you have a seller finance note for $2k/mo and make $4k/mo then you have a DTI of 50%...it won't be on your credit report, but is a debt that needs to be disclosed.

I invest in mid to upper-income areas where good credit scores and high earners aren't hard to find. 

Just gotta be real with them :D Let them know you will try your best to have seller cover all of some of the closing costs.Can also always offer above asking price and ask for the difference as seller credits

If you intend to pull money out long term, I would do a 30 year fixed rate 1st mortgage as it will offer the lowest interest rate out of all lending options on the market. 

I send tenants to collections because I get the comfort of knowing it sits on their credit report for many years and prevents them from getting loans or cheating another landlord.

Using a company to do rent reporting to Credit Bureaus is a good idea to prevent the delinquency in the first place and at least increase leverage to recover the unpaid rent after it has happened.

I explain they will have difficulty Renting a quality unit, that I will ding their credit, that I will attempt to garnish their future income to recover what they owe.

We use these factors in this order of importance (feel free to create your own):1) Tenant pool credit score2) Location => Neighborhood3) Property condition & amenitiesClasses are not defined for the SFR industry and are relative to the area.

Sometimes we approve someone who has disclosed an adverse credit/financial history or has no rental history and we will require 3x coverage.