Why not joint venture with someone who has money, fix & flip itWhy not rent it out for at least the monthly carrying costs.Why not sell it on a lease option, get 10% cash up front to fund school? 

:)As for LTR rental terms, usually we sign a 1 year lease where tenants are expected to pay Electric and Gas if applicable, while the owner typically pays water/sewer/trash with the city. 

The frequent travelers that like to do repeat business, cherish those basic things.

I am in PA and yes, it is legal to charge late fees to your tenant regardless of Section 8 subsidies or not, provided the tenant's lease allows for them.

When's the lease up?

How frequently can loan draws be processed?

If you make it clear upfront, it is between you and the tenant and goes in the lease. 

1 year lease for an apartment to a single woman with a dog in Duluth, GA. 

You could negotiate terms such as a lower interest rate or interest-only payments for a set period to ease your upfront burden.Lease-Option Agreement: If the landlord isn’t ready to sell outright, consider proposing a lease-option where you continue renting for a set period with an agreed purchase price.

It's written into the lease that tenants must deposit their rents into that particular account (either by online bank transfer or by walking in a check/cash); I do not collect rents directly, nor would I if anyone asked.