And don’t sleep on local banks or credit unions—they sometimes offer flexible portfolio loans that could work for a deal like this.Since your wife qualifies as a first-time homebuyer, check out any state-specific programs or HUD options for down payment assistance.

Specifically; rules, regulations and permitting procedure.

Our Wisconsin RECR form is asking very specific questions which seem to vary state by state.

@Ryan Daniel  I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection in relation to real estate investments.

Rent control laws are market specific.

@Nathaniel Floyd thanks for your insights and giving a specific market to look into.

Pre '2010', maybe just maybe it will lean heavier on the fundamental mechanics than specific processes. 

How can we prove that any damage is caused by this specific tenant, given multiple residents in the property?

You can find something in Durham and parts of Raleigh, specifically zips 27610, 27603, and parts of 27604 that would meet your criteria, however generally speaking most of the inventory that would fit what you are looking for in Raleigh or Durham would likely be in neighborhoods that I personally wouldn't want to invest in, C- to D type neighborhoods.

I'm specifically referring to PadSplit, a rent-by-the-room company/platform that operates in those respective areas.