And if it is a really cheap property...I may not service it at all unless it is for an existing client.However I am usually providing a good deal of value to my clients...flippers included.

Does the existing lease transfer with new ownership?  

Whether those will exist in the numbers I'm willing to pay in an economy that hopefully will do much better, I don't know.However, I want a good economy regardless of my RE endeavors.

There are a few different ways to go about either 1. getting the existing tenants out a little more constructively  (and much less risky/problematic for you) prior to closing or 2. finding properties that have already been vacated.Feel free to send me a PM (private message) if you have any other questions or would like to discuss this further.

Key components of property management (leasing and renting) are considered real estate activities under existing Wisconsin real estate licensing laws.

But if your position is such that you can find cash from other sources including tapping the equity on the existing condo in a 2nd or refi or savings for a short term or whatever, you can go that route as well.  

As far as seeing rental income, if you own the house cash and don't depend on the rental income as part of your application income, it really won't matter if you show it or not, and there are different rules when they will consider it income; my bank goes from your tax return, so if you don't demonstrate rental income on your federal 1040 it doesn't exist. 

Sounds like you are well on your way and will be pulling the trigger soon, I think at this point you should have been able to conduct enough studies to determine the major challenges that exist as you define multi and single family.

Multifamily housing is almost non-existant in Northern Virginia.

If they refuse you could always go ahead and retain the services of an agent at that point.