The challenges will be the recent tightening of qualification standards, but if you've got some reserves, proof of decent income, and a credit score above 700, you should be fine. 

Average FICO score of 750. 

Hi Michelle, situation sounds incredibly frustrating and sorry to hear how things developed.

Don't be discouraged though, this is an incredible way to get going.

My credit score is just over the "excellent" threshold and I currently own one property which is the house I live in.Thanks all, I would really appreciate any insight!

Have you reached out to Randy Jones of Incredible Tiny Homes?

The sellers desperately wanted out of the house but there were two problems: they needed the money from the sale of the house in order to purchase their next home, and THEN they needed to rent for approx. 6 months to build up their credit scores in order to secure financing for their next home as well.

And joes brother @Nicholas Aiola is a CPA who is also an investor and incredibly knowledgeable and helpful!

That has been a great resource for me, and as long as your renter is willing to sign up via email and go through the process, it is a very smooth gateway to getting their credit scores as well as a criminal background check.

But not incredibly terrifying.