@Janine Sharma The decision to classify your onsite mobile home park property manager as a W-2 employee or a 1099 contractor depends on the degree of control you have over their work.

Have you tried looking into co-brokering the deal? 

The company I currently use for my other investment homes said they don't offer management for any co living... unless everyone in the home is on one lease.

Hulk Hogan Gif's are Scientifically proven to increase the fun level of any type of forum.

What do you think of my essentially 7-word answer? "It's like selling pizza by the slice".  Too simple? Just right? How would have you answered? 

It is located in an area that attracts college students/employees, working class families, and military families.

Courtesy of Dodd Frank, its doubtful the self employed will ever be viewed by lenders as favorable as a w2 employee.

To improve your approval chances, use rental income from your first property, consider co-signers, and explore lenders that use Income-Based Repayment (IBR) for student loans.

im in Orange County CA and there is a huge market here for room by room rentals here. i've been doing this for quite some time (over a decade now), and it certainly has its pro's and cons. my advice if you go about this is make sure you do proper vetting before moving someone in... not only for financials/ credit-worthiness, but also for temperament and expectations in a co-living space. we ask a lot of questions like "how do you handle conflict?"

I file jointly with my wife who's a w2 employee.