Hey @Safwan Aziz - both of these things aren't easy, depending on which location you're focused on. 

I'm not an expert, but it will really depend on your tax needs.   

We also do not really want to go down the whole personal guarantee, W2, tax return, credit score route... or is this something we will have no choice with without hard money in this climate?

For example, if you want credit scores above 600 but you accept a 580 once, you can never in the future decline someone with a credit score between 580 and 600.The gray areas…I like a credit score above 600, I like my tenants not to have bankruptcyI like my tenants not to have a lot of debt (such that payments impact the Gross = 3X number)I like my tenants to have a history of paying on time Here is a scenario:  Tenant “X” gets past all the instant declines.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Olga Daisel It depends if you are looking for a full doc, lite doc or no doc program.

It depends on your strategy: are you looking to do a long-term rental or short-term?

While it depends on your financial position, I would recommend working with a conventional or DSCR lender and/or exploring the option of utilizing a HELOC. 

Less dependence on online travel agencies (OTAs) like Airbnb and VRBO, more people booking directly with you leads to increased profits.

There are plenty of more ways to find deals and I could go on forever just depends on what your goals are