You mentioned student housing - What schools are they near? 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

I live in a smaller suburb inside Memphis called Bartlett; It has a great community and amazing schools.

The most standout is the proximity to the school.

The home has a separate studio in the back for rental income with solid rental history but I am still trying to get a sense of the likelihood of consistency in renting it out as a short term or mid term rental. 

Should he be exposed to all liabilities that comes with it such as lawsuit, history of insurance claims(I believe insurance have a data base of past claims that can affect future coverage), credit and what not at an early age? 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

It's a con job by two of the biggest con artists in history.

It helps readers a lot by providing context, and those of us who have some time in the market can look back into our histories and give you some advice.