Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

simple question to ask, are investor dividends being paid out of net operating income or reserves? 

What we're talking about goes way beyond simple FRL.

For example, whole life insurance has at least 5 different terms associated with it now.

Other than that, you can prepare a simple notice letting them know that you thank them for applying, however they did not meet the criteria, and you can choose to tell them it was based off of their credit, and or background or simply just say that the minimum requirements were not met. 

Eric, I hope that wasn't too simple of an answer. 

Then you could get a rug with a simple trellis pattern in one of those colors.  

This simple conversation changed my future.

Strategy 1: buy a duplex, live in one unit (for one year as a "primary residence) and rent out another unit as a short-term / mid-term rental on Airbnb.

What started off as primarily a second home with the possibility of short term leasing quickly flipped to a STR first and a second home when not rented because demand is so strong right now for STR's in this area.