Speaking of which, if you don't use income minimums, immediately institute 3X or 4X income requirements.Having the income requirement coupled with the no co-signers policy should eliminate most students from qualifying for your rental. 

Before you can legally make the existing 3 unit building a 4 unit, you need to speak with your building and/or zoning department to receive their blessing.

In Todays realestate marketplace in the area of realestate finance there is some resemblance as to how to create wealth quickly as it was when I first entered the business over 25 years ago,in those days there was no seasoning of title,a very powerful tool,for my younger investors they may not know what no seasoning of title mean,no seasoning of title simply lets you buy lets say a property that you bought for $25,000 ,but the appraised price was $50,000 and this was a property where there was no rehab necessary,in those days I could buy the property for $25,000 on Monday and sell it on Friday for $40,000,oh by the way i almost forgot to tell you i bought and sold  25 properties in 4 mo. only using $500,those were the good old days well this scenario is creeping back into the marketplace,this brings me to Todays lesson is based on using 4mo.seasoning of title and 100% financing to move your realestate empire forward,here's how,john doe is a pretty ambitious guy ,he doesn't have a lot of liquidity but he has some ,he finds 4 properties that cost $50,000 that each of them needs $25,000 in rehab,the appraise value of each of the properties after they are finished is $150,000,john fortunately is able to find 2 lenders that will allow him to do 2 rehabs at 100% financing,so john is able to get the financing for all 4 properties and now he has $600,000 in value and $300,000 in mtgs,john has 2 options he can either sell all 4 properties or hold them,john is able to find a financing source that will give him a 7% rate on a 10 year call with a 30 year amt,and the lender will allow him to cash out at 70% of the appraised value,so john decides he want to keep the properties so he decide to refinance ,his new mtg pymt is $1663,lets say taxesand insrance hypotheticaly speaking is $350,per property, it may be a little higher,so his total mo outlay 3063,on a $150,000 home based on where you are located,1300 mo should be a fair #,it could be higher,so your total gross rents are $5200-3063=$2137,oh we almost forgot what was johns cash out when he refinanced (600,000x70%=420,000-$300,000,this would equal $$120,000-estimated closing =$30,000=$90,000,lets see what are really happened,$90,000 profit,$2137 monthly cashflow,minimal out of pocket,being that this is based on 100% financing ,there will be some out of pocket costs along the way but they can all be recouped back,so the investors true out of pocket costs would be 0 because he was able to recoupe his out of pocket from the cash out refi ,so tell me what is the real rate of return on investment if your end result is that you have 0 costs of your own money in the deal,the last thing I want to mention is that some people who read this may not have any money , but have valuable homeimprovement expierence,another may have the credit but no money,the other may have money but no creditand yet another mayknow where all the smoking deals that would make the #s work ,I bring this up because I read a post of 2 people coming together to bring the resources that the other lacked,im sure the same thing can happen in this instance.

I Googled: "homes for sale cuba" and found the following websites:1. http://cubahomesdirect.com/ (has listings on the main page and a contact us) that opens a new e-mail Even discusses Cuba Laws.2. the cubahomeforsale.com website that you linked to originally also has contacts that you can e-mail I always feel like it is easiest just to speak to someone. 3. http://www.havana-houses.com/index.php/en/ and So on and so forth...

What this tells me though is that the mold issue (if handled properly and purchased at the right price) is not the end of the world so to speak.

I'm applying for one as we speak.

Or will I get pretty much the same package requirements no matter who I speak with simply because the loans are being pushed through into conforming pools.  

I don't know much about PG County but if you speak with a local real estate agent he/she will be able to tell you where the HOT areas are located.

I'm looking for best practices so-to-speak of lease terms for our situation.  

metrolinareaia.org its plenty of them on meetup.com I recommend joining Jay parkers meetup.. and welcome to charlotte I'll be speaking next Tuesday morning at 8am the site is byinvestor.weebly.com