We already went through the application process and permits are ready to go but the previous contractors was unable to start the job.

In order to incentivizes applicants, I did a two year lease option.

Technically you could buy the house by signing the deal on a napkin, though I don’t believe anyone will advocate that. https://www.trec.texas.gov/taxonomy/pdf-category/contracts-forms-applications

Will this scare off applicants? 

I would just contact the lease holder and ask them to have her fill out an application and put her on the lease.  

To get a short term rental permit in the city of Portland you must live in the address of the STR 9 months out of the year and prove this by providing a copy of your driver's license with that address on it...unless y...

Some markets allow foreign investments without getting a visa, others do not. 

Believe me, I already have the loan application process underway, but i am doing some due diligence to make sure I have back up options in case it doesn't pan out quick enough. 

I do seem to have a LOT more denied applications and it takes about two weeks longer to fill a unit.  

I found it a bit boring, but it gave me the requirements to be able to submit my application.