I have read I will need to use a third party service to make this happen.  

Always had to jump through hoops but always had it based on the property / asset

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

I would only underwrite based on actual rents not proforma.

Many times the tenants are income based and pay 20-40% wherein only 60-80% may be guaranteed.Aside from the rent percentage issue is pride of ownership.

Fannie mae allows you to transfer your loan into an LLC, but it is recommended that you speak to your loan servicer and ask that if they themselves will allow you to do so.

I suggest using a service like Mayistay.

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Regarding the location of the Qualified Intermediary (QI), it doesn't matter whether they are based in New Jersey, Florida, or elsewhere.

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?