If you don't meet that 12 month seasoning requirement and/or want to hold the property under an LLC, a debt service loan may be a better option.

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

Have a way to double checking their information they give you on the application.  

Your criteria seem a bit strict for Section 8 applicants.

Our experience is that many lenders/servicer customer representatives may not know the protections that exist for those that want to put asset protection steps in place. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Additionally, I expect applicants to follow instructions in the advertisement and application, to make and keep appointments, to show up on time for appointments, dress and behave appropriately at appointments, and in general demonstrate throughout the process that they are someone that is easy and pleasant to do business with.

The fee to submit an application is $600.00.

Additionally, some states hold Escrow and Title services differently. 

However, after he saw the quantity of ADU applications come across his desk to plan check he went out and started his own consulting company.