For now, the tenants need to know, on the day of close, where to mail their rent (or update their auto-pay), how to make out the check (matches the new bank account) and who will be the property manager, with the contact phone numbers of the property management office or person.

My jurisdiction has us sign a declaration stating we understand the risks associated with acting as Owner Builder:https://www.sandiego.gov/sites/default/files/legacy/development-services/pdf/industry/forms/ds3042.pdf

You need to find a bank that does income loans

I'm still 'in process' with two banks.

So, my question: any ideas on a better banking/financing options?

The property is REO (Bank Owned), how will you know if the bank is motivated? 

I recently closed a wrap-loan with a local bank where I financed a home with a 3 year ARM on 20 year amortization and then sold the home as owner-finance with a 5 year ARM and 30 year amort.

I wanted to bank my full-time job income and live by my rental income.

Over the years I have eliminated any that are so arrogant that they believe they can use me as a bank at the beginning of the month to cover other bills.

The kind of thing that doesn't make or break your project financials - ie perhaps the jurisdiction doesn't have a great chance of 'making' you do it, so you can take it on more from a 'bring upside value' to your rents, etc.... and you get some 'soft' experience working through jacking something, pouring 1x new footer for a corner post, etc.