Inquire about a property and see how the PM responds.Those are a couple of checks you can try with any PM.

Check with an agent in your area, but i'm willing to bet the comps wouldn't change drastically between the two.  

Each programs have different requirements so it'll be important to check.

Renting by the room (long-term) is stable but requires tenant management, while Airbnb (either by room or whole house) can bring higher revenue but needs more hands-on work—make sure to check Little Elm’s short-term rental rules.

Reality check:  how many homeowners are going to sell you their house at such a substantial discount? 

@John Crawford awesome thank you I'll check it out!

I'd suggest that they can set up auto bill pay from their bank that will send you a check each month so they don't "forget" to make their payments.  

Quote from @Adriana Medina: I told the prospective tenant I was going to complete a background check and she said it should be clean. 

I got the preferential terms because I cut the customary LP check in half through the imputed equity and my own capital contribution and greatly reduced the LP investors risk.

If you need a reliable turnover cleaning company check out Opti Cleaning Solutions.