I worked at a student apartment complex for two years and have to say the biggest pro is that typically the parents are the ones paying the rent.

@Michael Breedlove  As you are an owner occupant, you may be able to get a home equity loan, but I would not expect a very high appraisal given your recent purchase and they are typically conservative drive-by appraisals (so your interior work will not be considered). 

We typically only accept co-signers if they are short on the income requirements. 

This particular lender though typically only charges 3 points on the front end and doesn't collect payments until the end of the loan. 

From Matt Faircloth, Sterling White, Ashley Wilson, Dave Van Horn, Chad Carson, and the likes?

I put white quartz in my personal residence.

Typically the residual land value won't allow it.

Seller disclosures typically happen within 7 days with a competent listing agent, but are only required to be delivered in the time per contract. 

Can a lender typically foreclose on a single mortgage property when it goes underwater, if the payments are kept up to date?

I typically try to do one batch about a month before the leases hit so that I can have a happy tenant base before rent increase time.