Updating and changing your Operating Agreement is your responsibility and does not have to be filed with the SOS in Delaware.Is there anything I'm missing? 

For me, I rent to a lot of college students, so this is standard to have the parents pay the rent.

Ryan - I would say  yes to the main question ...its  best to  start with using  hypothetical scenario  that is likely higher than you plan to use  ...ask the lender to  use these figures...provide them with all the  data they  request  ...ask them to fully underwrite and  approve the  file  ( versus just  providing a  " pre qualification "  opinion  based off a loan officer  reviewing the data ) ...getting a firm / formal  loan approval commitment  is free and  this should allow you to know  exacatly where you stand

One of the tenants has not paid April rent, and the landlord has given proper notices and just filed paperwork at the courthouse.

It also protects against a lien filed by someone who worked on the property. 

I think the standard requirement is that gross monthly income has to meet or exceeds 3 times the rent per individual  e.g If the rent is $900 and a single person applies their income should be $2700 per month. 

But i do see files every week that consists on sfr, mfr, land, reo's, npns. 

Now the best deal would be to work out a deal with the old investors to buy his interest thus strengthing the new investor's interest in the property, and likely to be able to file for quiet title.

Just file to evict them.

Is there a standard or common term of amortization?