On the south side, my credit score requirement is 600 and will qualify people who make 2.5x monthly rent.

Typically lenders do not allow this but if they do you would ahve to go through a full underwriting to confirm you qualify to make the payments.

@Chris Kay beleive you can do DSR loans without a job as they qualify the property, not the borrower.You'd still need 20-25% down though.That's where you have a decision:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- Save up for your next acquisition.Only YOU can make that decision as you have to be comfortable with the increasing debt-load risk and the additional time to manage everything.

You can replace the switch to one that requires a key to move off and on. 3) We have a repair deductible in our lease, but even so, something originating in the common area wouldn't qualify to be passed onto the tenants.

A well qualified business broker or someone else experienced in those calculations (think someone with statistics/finance expertise) can easily do this.  

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Property Appraisal and UnderwritingDo you require a formal appraisal or just a broker price opinion (BPO)?

Offering the property on a lease-to-own basis might attract buyers who can’t immediately qualify for a mortgage.

Always formalize the agreement in writing to define costs, profits, and contingencies clearly.Let me know if you need help structuring the deal or exploring funding options.Best,Drago

If you are assuming the property, you are actually putting the mortgage in your name, and you would need to qualify for the mortgage with the lender.