Thanks for responding.The model's income right tokens may be subject to a number of SEC regulations. 

Once you become licensed you subject yourself to all the laws required of licensees, including the requirement of broker supervision.

One of my applicants showed up with little credit but no defaults, no evictions, and only traffic violations and verified income high enough to cover well over 3 times the rent and I accepted the tenant despite there being some signs.He paid the rent in time for the most part until a few weeks ago when he stopped and I could not get ahold of him.

It's a VA loan, so long as someone can meet the requirements.I have it as a subject to, subto, so it can be done with creative financing too. 

The property can just about cover the refi in year one.  

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

The lease I had before, I purchased from RentPrep, and I really like it because it covers so many things.

Some of these strategies (though not all, and possibly not the most profitable) are the subject of constant discussion on BP. 

Many have pulled out of insuring multifamily properties or only cover up to 4-unit buildings.While Allstate doesn’t have a unit cap, they do cap total coverage at $750K on a landlord policy—which is why I’m exploring options for supplemental coverage.The carrier raised my rate by ~86% on all three properties under this policy.

That means I'd be covering a significant shortfall every month.