I am looking for the right applicant trapped by the right circumstances who will not completely abuse my place even though they're trapped.

If the market shifts hard & you started with 10% equity, in my opinion, you’ll be holding the bag for a long time because that 10% can get eaten quickly under certain circumstances.

I think the 'timing benefit' complete depends on what your other circumstances are too.

If you are separated and your circumstances require you to move, then it may be considered out of your control.

All the advertised rates that you see are for owner occupied and ideal circumstances (credit, condition, value, etc.). 

A good idea is to budget 30-35% towards the unforeseen expenses like a new HVAC which you’ll have to repair or replace (I’ve had 3 this year), or the random dishwasher or water heater that quits on you.

For the other expenses that you deduct, like internet or home office I would talk to your CPA about that, the rules and individual circumstances vary so much that I think its hard to give general advice on a forum.When you make the change you should also be sure to notify your property insurance company and update the names on your utility bills.

Under no circumstances should you purchase a property that doesn't qualify for title insurance...

It can be a very good deal for the landlord and tenant in the right area and under the right circumstances.

@Latierra Dewberry this is such a loaded question based on your own set of circumstances.