The main hassle of conventional lending is being able to provide proof of income and seasoning.

The main reasin is for a better clearance of liability. with you editing a signed contract, that has a high Probability of letting a tenant be able to void the contract and it actually happening.

It’s less than 15 minutes by car from two major universities (Towson & Morgan) and just a 7-minute walk from a shuttle that services both campuses.I plan to rent the property by the room, targeting mainly college students due to its proximity to the schools.

After years of not using it, for some of the reasons listed in this group and mainly because I didn't think it worked well in my market, I signed up for the 30 day trial that expires in 7 days.  

What you seem to be missing is your main need is an accounting system.  

Granted we only have 17 but still, I’ve never used anything except a simple excel spreadsheet and all my rental properties have a separate savings account under my main account at my local bank.

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

Now my main issue is I need a fire detection system in a enclosed back porch that leads up to all three floors, but I don't know what's the minimum I would need to be compliant or that the fire marshall is suggesting what he wants or recommends.

lima one does spec loansbuilders capital.they mainly rely on experince they want to see you have done 2 or 3 in the last few years.. 

You are afraid of rent control, but if you add an ADU and it is detached, the main house (if built prior to 1978) may eventually become subject to LA Rent Control. 3.