if you have no money to put down then you're not ready.here's what i would do instead:-save up enough until you have enough money to do a live-in flip-do a live-in fliphope that helps

You should vet the company to ensure they have the resources to pay the rent.You ALWAYS do background checks on the people living in your property because if you let in an axe murderer and they harm someone, you are likely to get sued.Whether or not you charge an application fee is up to you.  

Will interest rates go up or down when Freddie/Fanny are 100% privatized?   

Lenders or investors who have short lock up periods but have years of experience feeding their business with new capital would give me more comfort but anyone who is just starting and is promising a rate of return or return of capital in a set period of time would be alarming because they very well could be reliant on fresh capital to make good on that promise and that usually ends poorly.

I ended up getting the online course and it was pretty disappointed. 

Best place to start is reading up in the forums, buying a book or two, listening to the podcast and attending your local REIA.

You end up being on the 10 year plan vs the 1-2 year plan.

I used to work up there for years as a firefighter and still sell a lot in that area. 

This is usually wrapped up in that 20% markup from a dedicated sub.

That being said, and this is not for a sourcing homes for sale, but to source accredited investors in my line of work, the average marketing agency is looking at about $30-50/accredited investor lead setting up a call.