there is a famous case  ( at least in Australia were US and AU marketers were truly abusing investors from AU) AU investor did exactly what you did.. bought a unit... decided to take his 6 week vacation to Detroit and do the work himself.  

This, in spirit if not explicitly, would be ok with a named user model.Having said that, I imagine MLS is 99% worried about abuse from pooling a license amongst many co-workers or unaffiliated folks where there is lost revenue or extreme fraud.

Emotional Support Animals is where the typical abuse lies - there are websites that will print you certificates for that in minutes.

One thing that could clarifiy this and were the most abuse is .. is in the 1 to4 .. mom and pop.Maybe you follow like Dodd frank does in 12 states and make the rules for 1 to 4.. any commercial property bare land 5 units or more exempt.. and nothing required.. with the idea that the buyers and sellers are more sophisticated.. and its Caveat Emptor .

I can see how some people might see this as shady and there is potential for abuse, But assuming you can find the deals and turn them around without running afoul of the law, I don't see why it would't work.  

And as far as not giving money up front, I am referring to people that say they are PMI and ask for all your personal info upfront and ask anywhere from $899 to $2500 saying they need to secure the loan (such as life insurance) in case you get hit by a bus and default on the loan.  

Then again, you could get hit by a bus a week after graduation!

Repairs can vary widely depending on how "tenant proof" you keep your rental, and how they abuse it. 

I also do not abuse insurance making claims on every little thing.

Not sure what I have on repairs, but I have a long relationship with my PM and they have never abused this.All the points you mention are negotiable.