This includes PAR and NAR fees. you may be able to find a board/broker that does not require PAR/NAR which could save about $300/year but would limit your other benefits.

I'm not sure how you are going to limit them to responsible borrowers only, but if you figure it out then you can probably just limit them from all forms of borrowing.

There are applications that will use the Google Street View so you don't have to physically photograph houses...

I am looking into either house hacking/ investing into rental properties as I am a college student with limited funds.

On BP they talk about the BRRRR but isn't that counting towards your 10 limits?

That would be the absolute limit of my compassion.

In a situation where each one can not afford the entire rent on their own when one can not pay you will no longer likely be receiving any rent.If you are going forward with this, which is highly unadvisable (especially with family), I would screen each and if none can afford the unit alone then reject all applicants.

Most likely applied as rent or some sort of application fee.

I note that you asked specifically about “cash-flows”, which has multiple components each treated differently for tax purposes.In general, you can start with NOI, next you have debt service and cap ex, which can get you to cash-flows.The interest portion of your debt service is tax deductible (possible subject to limitations) and the principal portion is not because you get basis in the asset for the loan principal, which generates a depreciation deduction.Similarly, cap ex is generally not deductible currently but the expenditure is capitalized and depreciated, similar to the initial basis in the asset.In summary, you have cash and non-cash tax items that cause your taxable income to differ from your cash-flows and taxable income * tax rate determines your tax liability.

If that wont work, my company has investor products that will allow you to buy as a rental with 20% down payment, no employment or income is listed on the application and the only way debt ratio is considered is so long as the property will bring in enough rents to cover the PITI.