Its not uncommon for banks to require 2 years of rental history especially for first time landlords.Sounds like you would be better off to sell this place unless it makes sense to live in the home.

@Jacob Tudorrenting these by the bedroom is not uncommon and very profitable.

It's not uncommon.

In the Chicago area I know this is not an uncommon practice.

It's not uncommon to find a building with rents 50% below market.

It is not uncommon to sign it before the inspection however there MUST be an inspection clause in the P&S that gives you a certain period of time after the inspection to back out.

It is not uncommon to see newly renovated Victorians and new construction in the neighborhood listed at +/- $300,000.As evidence of the strong market trend, below is an article from the Indianapolis Business Journal discussing a new, proposed $20 million apartment project in the neighborhood.http://www.ibj.com/articles/59167-developer-plans-...

Taking money from one job to finish the last job and looking for the next job to get the cash to finish the current job isn't as uncommon in that world as one might think.

In my area that's not uncommon at all to have some cracks near windows and doors, but we see a lot more freezing and thawing here.

As @Jon Holdman said, be prepared for annual changes in the escrow amount due to increases in taxes and/or insurance.Having said that, it's not uncommon for mortgage companies to give you the option of escrowing the TI once your LTV gets low enough.