If the landlord wants to hire a property manager to operate the property, he certainly can do so but for underwriting purposes it wouldn't be applicable to determine the value since a majority of investors buying single tenant absolute net leases will elect to self manage since they a merely collecting a NNN lease check and depositing it into their business account.

She has paid May rent and I would assume that she is either working again or collecting UE.

I used the rent money that I was collecting to make improvements and later did a cash out refinance to purchase my next property.

I’ve spoken to other investors and collected a good sample size of responses in terms of which Order construction needs to happen and the time required.

Who's finding the deal, negotiating, putting it under contract, inspecting, marketing, placing renters, collecting rent, handling maintenance calls at 2am on a Saturday, etc?

How about laws limiting the security deposit you can collect? 

We can have tenants placed before closing, so we are collecting rent before our first payment is due.2.

Your tenants must abide by the CC&R's and if they break those rules you are subject to fines that you must then try to collect from your tenants. 

I know I cannot collect rents against an illegal unit but can an owner stay there?

So I have a 1 bed condo that I rent out and last year was the first year I’ve collected rent.