I would suggest to speak with a broker or someone familiar with the process and have them review a full package and try to look for any possible red flags in advance. 

I would definitely have a red flag raised for future dealings with this tenant if they didn't own up to it. 

Unfortunately, there are several barriers, including finding a seller willing to accept this loan, a lot of lender red tape, and then coordinating a qualified/licensed contractor to do all the work.

The fact that the property manager leased it without collecting a deposit is a huge red flag when they are only placing a tenant. 

Take a bold approach to the real estate market.

Keep in mind every offering i have ever seen and the few I have personally put together The first page is Generally in Bold print this is a risky there is no liquidity and you could lose 100% of your money.. this is disclosed up front..

The only part that is a red circle is the male's background check shows  criminal records in 2019.

I’ll be out of state, which I know is a big red flag for many.Well below 1% minimum of Rent/Property ValueHoping to self-manage (Yes, another big red flag)Loss of capital gains exclusionMONTHLY SUMMARYRental Income $3,500Less ($3,440) Mortgage (2,900) HOA (390) Rent Ins (150)Less ($1,155) Property TaxTot Exp ($4,595)Rev: ( $1,095) !!

Catch all the red flags prior to submission cause once you submit a file that has uncaught red flags, that's when your process slows and lender's get nit-picky.From a lender, I want you to work fast, if I am hustling on my end to make it easy for their processor and underwriter then I expect fast work with an open line of communication and I want my rep at the lender to be able to fight for me or my clients should an obstacle arise - which they usually do.

So, a common action is what I call "the Red-Headed-Step-Unit".