For example, a $200,000 property might require $2,000–$4,000 per year.

Does airbnb require you have a permit to list in SLC or are people just winging it without permits?

All client deposits when to title company let them account for it all :) I have a trust account, only because some states require one, such as Pennsylvania.

We have 2 San Antonio sub2 deals that are turn key homes and only require about $20-25k to close (assignment fee + closing costs).They're a great option!

Now, some states require an attorney to review contracts. 

The underwriting process is certainly more arduous than most acquisitions but through my personal experiences some of the lenders are far more knowledgeable about the requirements and make for a far easier process for both seller and buyer.

Syndications are great for truly passive income, offering tax benefits and diversification, but require high minimum investments and long-term commitments.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

A&D has a 2nd position DSCR but not revolving - installment only.AO has a HELOC but self-employment documented for 2 years is required. 

A deposit on that site is required to bid.