Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

They are a bad deal for homeowners and a terrible deal for rentals. 

It could be helpful to you (lenders will want to see lease agreements) and it is good for the family member (they actually could do a program where them paying rent increases credit). 

We have internal funds, our passive note platform, lines of credit along with over 10 institutional capital investors that allow us to provide a variety of loan programs to fit the needs of residential investors from wholesalers to flippers to BRRRR or turnkey investors to land and residential developers.Kevin HillCEO - Aloha Capital

Almost every partnership fails and many end like a bad divorce.

It is true that you are able to find deals in every market, but one of the things I have learned is that finding the best markets to invest in is better that trying to make deals work in a bad market just because it is close to home.To answer your other questions. 

First of all treating rental income as a hobby is a very bad idea. 

We use Proper but I am going to be going over all our insurance as things have been skyrocketing here in WA state ever since they did away with credit scores affecting insurance rates.Where is the STR at?

This can be good when it comes to avoiding taxes but bad when it comes to qualifying for a loan.

Even more than credit, the more experience and capital you have, the more aggressive a lender is going to be.