The owner has an LLC that he uses because it is a business for him to sell property and finance it for individuals.

My friend owned the property.

My estimates are based on personal experience having done a fair amount of renovation on my primary residences and estimates from friends and family who are contractors.

My friend owned the property.

Would it be best to put one individual on the lease and have the others just listed as people who would be residing in the residence?

I'll just say: WA law is NOT landlord friendly... 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Share how was it for you or a friend the experience when moving into a new place with a girlfriend/wife.

Property 1 im 120k into it, the morgage company wants 136k . its worth around 190k currently, rent is 1800 if i wanted to rent it, HOA is 450Property 2 im 280 in to it, the lender wants 360, but its worth 500 and can easily appreciate more quickly, rent is 4000, HOA is 1400i have a family friend who is a lender whos willing to help offer cash to the lenders and then i can either sell properties for a lesser loss than 400k or hold for a few years and throw tennants in it and sell after to break even with the appreciation I'm hoping the lenders for the second propery is willing to work with me , and maybe even negotiate. i hired a lawyer today. fingers crossed.BEWARE everyone because im in a very bad scenario :(

It is landlord-friendly and has a low barrier to entry.