What I would recommend is to send each tenant a letter with instructions on where to send their rent and an effective date.

That cash flow could perhaps help you generate more of a snowball effect in savings towards paying off your debt and making it easier to qualify for financing.

When the seller gives someone an interest in the property during the pendency of sale is something that you, as the buyer, probably have to ratify for it to be effective. 

Effectively turning a SFR into a Triplex sort of speak.

It seems like that would be a more effective way to scale quicker.Like i said i'am just confused on which method would be more effective, and the pros/cons of each. 

Amid the other concerns being voiced here, I didn't see anywhere that the HOA was verified in allowing STR.  

In other words, does the $750,000 mortgage limit still apply if the mortgage interest is split between the rental and personal portions of the property, effectively lowering the principal amount of the loan amount applied to the personal portion under the $750,000 limit?

The one I use is cost effective but a little less slick/modern than some others out there.

The are different ways to get money and you need to be creative and organized at what you do.There is a tax situation that effects your decision. 

If you are looking for something that is cost effective and doesn't need too many bells and whistles, then this could work well for you.