It's also way easier to pick a good tenant when your have 20 applicants.6. 

However giving people like us an advantage on picking up properties very well below retail for numerous different strategies (Flips and Rentals).  

However, it's not the wild west, business transactions are covered under federal laws, the Uniform Commercial Code (UCC), Security Exchange Commission (SEC) are usually the most applicable to real estate investors but there are various federal rules, regulations and laws that may apply. 

The tenant would still be responsible for paying rent until the end of the lease term, or until a new lease begins, whichever occurs first.Each state is different when it comes to the law so you should review the applicable landlord/tenant act and consult with an attorney if you are still unclear on how to proceed.

Come companies can open your account same day (online) and others process and manual application and require copies of your ID.

We have had numerous clients going through 1031 Exchanges in order to qualify for purchase money loans (as opposed to cash-out refinance transactions) or to consolidate a number of properties into one larger property in order to reduce the number of outstanding loans.

Regarding your second question about transferring title later, you will need Lender consent to do it, which they may or may not give, and you will incur various recording and transfer taxes, if applicable in your state. 

Often they have their applications and rental criteria listed - a great starting point.  

I could see how a small guy like me could utilize the CF application.

Rent rates were climbing, applicant quality was rising and, oh, it still is!