There's a difference, and that difference is how they benchmark cost of funds and interest rate risk from a balance sheet capital perspective. 

In general the area is over built and has a lot of "mice after the same cheese" one of the difficulties is Baylor requiring freshman to live on campus and them expanding their living learning centers.

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

. - Lenders are not balance sheet lenders.

Some programs don't require first time buyer, just that you are making a sensible move for primary home ownership not as rental

@Ikenna OkekeogbuStarting with a single-family home rental investment in an affordable market requires education, have clear goals, plan your money, and have a team of experts.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I had a water leak at a property that required remediation.

You can also get a lower rate on a 30 year fixed and even though its a 30 year loan there is No prepayment penalty so you can pay as much as you want but not obligated to pay more.A Heloc is a credit risk and can "never" be used as an asset or PITI reserve which is required when buying additional properties.

No permit required for long term rentals in un incorporated Cobb.