Unless you still want to buy the property, the seller is in breech for not closing because you are full ready to close but they haven't or refused to sign anything.In NC if the seller breaches, the buyer can sue for specific performance.

It has two bathrooms, full kitchen, and open area and seven rooms that could be used as offices or I guess it could be a boarding house too lol.

While I have not done a deal with them, their agreement requires a close timing that simply will not work with conventional lenders (usually 7 days or so).  

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

On the REIT side - When these investments go underwater, often the sponsor company will freeze or drastically reduce redemptions.

Typically has a balloon payment due in 6-12 months, so you need to ensure you're ready to get it rehabbed and sold (or refinanced) quickly.

A few other comments;For Philly: It's best practice to include the required documents in the final lease packet and have the tenant sign or initial all to prove receipt.

We are considering investing in Houston as foreign investors (from Belgium), our goal is to find and start with a long-term rental single or multi family home. 

STR or MTR.  

Partnering: If you're initially short on funds or experience, consider partnering with someone who has more experience or capital.