It is definitely getting tighter and you are having to run them properly to out perform the market.

What you should be careful is the consistency of your bookkeeping whether you book in accrual basis or cash basis otherwise your accountant will be confused when he or she reviews your book at the end of year at filing your tax return.If you are familiar with accrual basis accounting, maybe it is a good idea to book it accordingly because accrual basis is better to monitor the performance which is profit and loss of your business monthly.

. - Your rental history via any identifiable prior Landlords - Credit reports via a third-party Consumer Reporting Agency - Public records regarding criminal conviction history or registration as a sex offender - Personal references. - Verification of employment and/or income (or rental subsidy) amounts. - Public records regarding civil court records. - Any other information provided by the applicant (such as anticipated length of tenancy, tenancy commencement date, etc.). - Any offers or proposals you may choose to make to us (additional rent or deposit funds, extended lease term, guarantors or co-signers, etc.).

That's pretty smart but what about the third house in the third year that you want to house hack??

If Buyer chooses to seek financing, Buyer may do so at Buyer’s sole risk and expense by submitting a mortgage application to a mortgage lender or mortgage broker within five business days from the date of this Agreement, but the failure to apply for or secure financing in the amount or time or terms desired by Buyer shall not excuse Buyer from timely performance of all obligations under this Agreement.

Also you can call third party management companies to find out if they have any owners looking to sell.Mail can be somewhat effective if done correctly.

As I mentioned above, if you as a third party bidder buy at the first mtg foreclosure auction, you inherit the previous hoa debts.

We are now two days away from our third closing date and the underwriter has asked for numerous documentation in the previous days that was already in the file and had to be walked through the file by the loan processor to show hime where each piece was located. 

Of course if you own those properties under one LLC you can totally do that and you are protected but it is the best to monitor on each property's performance as an investor and most of the softwares are not built that way. 

The Checkbook IRA owned by an LLC seems to give you the most freedom and certainly the more exposure to the IRS if you perform a "Prohibited Action".