>The upside would be passive income in the range of $3500moNormally I do not see people with residential experience refer to it as passive income.  

Some people take a year or more to finally pull the trigger.

There are a few options that some people have used when they were looking to buy a new home before selling (and ran into DTI issues). 

We live a couple of hours from the property and needed local people to lean on in emergencies.

How should a escrow account be created when there are two people on a lease (two friends staying in a 2BR condo). 

There are 0 seasoning outfits around, like I said you pay for it in the loan product cause if you need 0 months seasoning then you may be desperate, desperate people will take not so great terms.If you're looking to close in cash and then have the refinance close the next day you are dreaming? 

This is the #1 issue that most of the operators I work with have issues with.A strong maintenance process means you have a CRM with all your people, a basic understanding of rates, contracts in place, and backups. 

I do think the market here is a bit saturated personally & many people I speak with are seeing they are not as booked.

Income-based lending is mostly for people with traditional jobs.

Get great photos, offer similar amenities as people in your area.