I don't mean to be a wet blanket;  I have been fortunate enough to have found some great deals as a broker, some that I've even listed, and bought people out of tough situations when the house wouldn't sell (a situation that has it's own, more acute liabilities).  

I do FSBO stuff, and I when I list my own stuff I give my company a cut!

We purchased a cute tiny house (sleeps 2) that we plan to set up as a rental at our Christmas tree farm in Manvel, TX.  

However, it is my understanding that it is acutely illegal for a hard money lender to loan to an individual.

With FHA, you can acutally use 85% of the market rents to qualify, another big reason why people choose FHA. 

There are many high net worth individuals that will sign on the note for a cut of the deal.

This might be a cut-your-loss and learn-your-lesson situation situation.

what one of my C class bigger opeators does though is if he has carpets.. he will clean them then just die them a darker shade until they are black literally.. before replacement  . if your buying strong B class your turn over issues wont be as acute generally speaking but these morris houses and any house in any city that is on the low end of the rental spectrum this is your tenant base. so account for turn over accordingly... boost your cap ex and maintenance numbers .. this will help to alleviate these large turn over costs... at least you know going in.

However, if you are trying to benefit from the low money down and low interest rate normally associated with a conventional loan, you could consider trying to find someone to cosign and give them a cut of the cash flow and equity in return. 

They claim to go off the International Property Maintenance Code but when you ask for specifics (like downspout length that is not in the book) they have a cute little law that basically says whatever they say goes.