When you are not a bank and do not have a large enough sample size to ensure your default risk premium is adequate to protect your principle, you should have the borrower post additional collateral raise the rate further, get a co-signer (always a good idea anyway) or all of the above.Andrew

I am sure people do deals all the time without one or all of these components, but at the same time I know their are benefits to having these as well.

Most or all HM lenders won't lend knowing that your end goal is to occupy.

Yes, the legal description may show the status, after all the area descriptive language, at the end of a legal it will say something like or "All of ......., Terracewood Place, a planned unit development, according to the recorded plat thereof" generally shown on the plat, original permits, zoning applications, development plans and specs submitted, in title and a survey it may be stated.

Can the current NOI support any or all of those financing scenarios?

Sure, everything is negotiable in real estate and the management agreement regarding late fees can be negotiated as a split or all to the owner, but really those late fee dollars are like infusing additional capacity to us as managers to allocate resources of time and staff to promptly respond with notices, calls, and site visits (documenting all along the way if it were to go south).  

The question should be, which is better...leverage or all cash?

If you were going to buy a house anyway, it meets your non-financial goals of owning a "home", and can meet some or all of your financial goals of buying a rental property (adjusted for owner occ incentives) then I think it's a potential wise investment.  

Make some bandit signs that simply say I will buy your house quick close, or all cash offers.

Or all three!