And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin. 

Do you utilize and software to generate the offers quicker, or any AI tools?  

Curious if there are software options for managing both types of rentals.

Give me the horse and buggy vs a self driving car with immature software and sensors any day.My point is you should use as much technology as you can to make your life easier without going beyond its limits, and in the meantime always be on the lookout for new solutions that solve problems without creating new ones.

Banks rejected 1 in every 5 mortgage applicants last year.

I would never do anything like real estate or even software without an LLC.

And IMHO, the prices are dropping big time (on avg. 10K/month...houses that were above 300K a year ago are not selling at 250K now) and the available rentals saturation is worse than I seen during summer season (with rents dropping from 1$-1.08/sqft to 0.8$/sqft and very little contacts and applications...just go in Zillow and look how many rentals are on the market now in Kyle, New Braunfels or Converse). 

Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

Proc. 2002-69, 2002-2 C.B. 831, for special rules applicable to husband and wife state law entities in community property states.

Use softwares like AirDNA and Pricelabs to get an estimate of what you could be making and see if it's worth it.