I just accepted an application and starting to prepare the lease.

1 -No...I don't seek leads2 - Yes...reverse engineering.3 - I designed my own set of software (it started out as just an Excel form, and grew...) based on how I invest. 

I can’t say lacking the ground is as safe as having it, but driving isn’t safe, nor is cooking etc in certain applications.

Your broker may have forgotten, but when the appraiser reports back to the lender that it is a rooming house, the lender will walk away or only underwrite an LTV of 50-65%.Your best bet is either a private lender or finding a conventional lender which uses auto-approval software (TD is an example) and mortgage agent/broker who can steer you towards an application that qualifies for auto-approval (if at all possible).When we were first in the same situation, we approached a family member with a proposal to have their name on title and live in the house (rent and utilities free) in exchange for their serving as the Den Mother to keep the house in order.  

When I am looking for renters and doing the application process, am I required to send letters to the applicants that I am not renting to with a reason.

There are also some software and Apps that do a lot to automate the management aspect as you continue to scale.Collin

The only problem is that I have a misdemeanor petty theft from 10 years ago on my record and I know that can be a reason for the board to deny my license application.

It takes time to build a pipeline so the right individual would need to be willing to spend this time learning the process and executing practical application.

Additionally, you have many structures that could be applicable depending on the asset. 

RR You might be surprised how deeply offended folks can get when you suggest dropping a spouse from the mortgage application to get a better rate, lower fees, or to get it done at all.