@Carolyn BrownYou will not get conventional financing - you will need to get hard money or private investor and be putting considerable $ down for site unseen properties.

Stated income lenders do not take in to consideration tax returns or verify incomeRates are slightly higher but not as high as HML

Just some general house-hacking considerations-https://www.biggerpockets.com/renewsblog/considera...If any of those help!

Competition for listings have gone down considerably from my experience since September, although well priced homes will still attract a great deal of attention. 

I’m learning the key is to find the best tenant and to take all precautions into consideration.

We aren't in the "University Heights" party neighborhood, so our home may be good for a grad student or young family.  

Any special considerations I should be made aware of with a change of landlord mid lease?

I have a decent budget for a down payment for several units and I was thinking of starting with something like the following...Unit type: Condo (only looking at turnkeys; not going to rehab - much)Asking price: $182,000 - would offer $160,000Fair rent price: $1,600/moProperty taxes: $2203/year; $184/moHOA: $223/monthMortgage (P&I): $635/moLandlord insurance (estimated): $20/moOptional considerations:Property management: $160/mo (10% of the rent; I am not going to use property management at first; I will manage it)Vacancy: $160/mo for as long as it is vacantRepairs: $80/mo as neededI obtained the optional numbers above from here:https://www.biggerpockets.com/renewsblog/2013/01/1...This comes down to...Worst case scenario of $138/month given vacancy, property management, and repairs.Best case scenario of $538/month without any of the optional considerations - so hopefully this is the profit I would be looking at almost every month.Thoughts?

@Joshua D.As a general rule, a valid contract requires something called "consideration."

This means that you are opening the door to an easy court case whereby ALL of the lease payments are credited towards the purchase.3)  The Option Consideration will not be used as part of the down payment by the bank because the Option Consideration Payment has nothing directly to do with buying the property.