One of those options is to let the tenant know you won't renew their lease, then offer them the opportunity to leave early if they find another rental.

With your income and the option to use an FHA loan, buying a home could be a smart move, especially if you plan to rent it out later.

We also had the option of another type of policy that was even less expensive that would have required us to spend at least 1 night in the house and rent it at least 30 nights each year.

@Ryan Dori lots of options besides DSCR. 1 Year income, Asset Depletion, Bank Statements, and P & L only loans. 

Health insurance payments, Health savings account lots of options. 

Transportation options are plentiful.

In this case S8 is probably not a good option.If you are convinced you can find a great family that will take care of your property, then either option is fine for you. 

This is true whether those clients were on the optional recordkeeping program or not.I don't have a lot of details and am not personally involved in this program in any way, but I have experience with SEPiraK separately and they are a quality operation.You can reach out to info at sepirak dot com to learn more. 

I also broker ALR's in Colorado, and create deals in which I connect operators with landlords looking to lease option the properties.PM me so we can connect!

Connecting 1 on 1 with folks is always a good option too!