Grand Rapids has a limit of four unrelated occupants. 

Welcome, Jon,@Jon Alke@Julie Macd - The exit on that side of the mountains (specifically in the larger cities (Spokane, Tri, Ellensburg, Yakima) has been gaining traction quite rapidly over the past few years - for multifamily anyhow.

The Virginia Landlord Act Section § 55-248.15:1 Security Deposits, instructs on how they need to be handled.A few additional tips is Keep Records, you can take a picture of the doc with phone, scan to pdf. 

The higher end market including Mid town/ Downtown/East Sac/Land Park and vicinity is appreciating rapidly.  

,I read your original post but only scanned the responses so I may have missed it if someone already mentioned this: you seem to be missing a lot of other costs. 

Don't ever use a quit claim in Texas...they're not recognized by title companies here and will cause issues down the line when trying to sell. 3,  The titled owner(s) can transfer some or all of their interest in the property via another deed (special or general warranty deed) which will show how much interest is being conveyed.

Might need to plan for financially to have significant turnover which will require rapid fire make readies (and sounds like upgrades). 

@Ross Benedict we talked briefly already, but go to the gis and scan it for large parcels or empty ones, that may have been inherited and them combine them.

So you have to figure out what data best fits your area, and which source(s) can be trusted to give that data. 

Each bank has different standards (that can change borrower to borrower) and their standards have been changing rapidly over the past 3-5 years.