The difference here is that my son is employed and earning some money already.

If you have steady Employment and you like the area or have a family and you can afford to Rent at $1000 plus a month you begin to look to Buy a Home.

Their housing choices are:Mom and Dad's house,Apartment rental,SFR rental, - and Home ownership.If there is stable employment / double incomes / beginning of a family in the picture, they move down the list toward home ownership.  

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.Note the PRESUMPTION of brokering and the person has to PROVE they are not. 

We're happy with our financials and our fields, but we're self-employed.

All very competitively priced to market rates.Beyond that, there are lenders offering programs based on your cash flow into your bank account for people who are self-employed but cannot really document a couple years of it.

Hey Everyone...So we've jumped into the cash-flow rental REI side of things and now are wondering about our employer based plans.  

•Brand new central HVAC•Brand new, upgraded electrical panel•All appliances less than 5 years old•TWO 40-gallon water heaters, less than 3 years old – enormous supply of hot water•Multiple rooms•Large brick fireplace and separate wood stove•Permanently installed ventilation/dehumidification system in full finished basement•Huge, 3-room paved shed, plus additional garden shed

I've heard Quickbooks is a great way to keep track of business expenses and reports if you are self employed or running a small business. 

Plain and simple.Tenants have rights, applicants do not (aside from the housing police regulations)If your first applicant is unemployed or does not have a consistent two year employment with the same employer (which he does not) he does not qualify and should be rejected without further consideration.