@Kay Nemen I just try to figure out what fair market rent is, write a letter to the tenant, send it certified return receipt and give about 60 days notice.

No, you can get pre-approved fairly easily for DSCR Loans, arguably more so than conventional - will likely just have to run credit and then you can be approved subject to having the cash to do down payment and pick a property that will cash flow

Surprisingly there's nothing easily found on the web.

Search their personal and company name for past or current lawsuits (public record in AZ and easily accessible through government website)3.

If we were running a cap rate on these you'd have a worse return than just going and getting some CDs from your local bank and YOU would then have the fun of dealing with tenants paying less than 50% of market rates (assuming your numbers are correct).There's no deal to be had here unless you can bring her down significantly on her ask.

From talking to lenders, I need to accept at least one job offer and have an actual job after college in order to qualify for a loan since I don’t have two years of tax return from my business.

This will be pure cash flow of 12% return per year.

Originally from SD, moved to Riverside for college and never returned haha. 

That will largely offset what you would have saved in interest until you are ready to do bigger things with it and get a larger return. 

It is a bit more challenging to get financing until you can show income for 2 years on your tax returns.