So . . . vacancy in college units CAN be higher (due to the cyclic nature of the school-year, the fact that they aren't attending all year, and some other factors), but this isn't always the case.

But, the most important part is, what good is a 2% rule if you aren't actually collecting the rents!

Usually assignments aren't illegal but heavily frowned upon by sellers and agents, but check your local laws as I'm not a lawyer.

I'm glad to hear they aren't trying to do volume with $10k margins. 

I assume they aren't married filing jointly... otherwise is does not matter.

I know most conventional and FHA loans aren’t flexible with unreported income, understandably.

We are trying to serve our tenant with an eviction notice and she is evading the police, sheriff and us. She’s also changed the locks on her door and altered the premises. I don’t know what to do anymore. I cannot wai...

Footings and CMU aren't generally cost prohibitive. 

If they aren’t out you will need to do the 3 day eviction.

I suggest having the practice provide you a paycheck so you can have proof of income, if you aren't already doing this.There's nothing wrong with getting a 7% return... probably through some sort of index fund/mutual fund combination... and then taking that money in a year or a couple years and starting the real estate journey then.