And with brokerages now offering new agent programs where they will pay 100% of the expense to get licensed, there is literally no reason not to. 

If worse comes to worse and I need to get a judgement against the tenant and co-signer(s) can I force them to pay?!?

Can they bypass this requirement if paying in cash?

So we would have to get a loan, pay off the seller and transfer title and then wait the seasoning period before doing a refi unless there is a bank out there that will treat it as a refi off the bat

How difficult is it to find tenants that are willing to pay market rent?

If you're unwilling to charge a common fee, I wonder how you're going to handle a problematic tenant who is late on rent or responsible for paying the plumber to remove a kid's underwear from a clogged toilet.How will you conduct a credit/criminal screening without an electronic application?

How do you pay for the tax and insurance?

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

Nor would I pay retail for a property with that low proforma return even though I like PR.  

Got an equity line of credit and borrowed from it to pay cash for the property.