My past few years had activity related to previous employment that was a mix of W2 and K1 which confuses the banks and they just want to see two years of consistent rental income on my own returns.Your best bet is to get a HML lender and then refinance ASAP when you are done with purchase and rehab.

Your best bet would be start reaching out to banks/credit unions that provide FHA  or 203k loans to see what they require based on your work/school situation.

@Felix SantanaI will bet that the guru company made you sign contracts that "discourages" you from ending the relationship.

Plus I bet the PM keeps books for the property and issues you a monthly and year ending statement for taxes. 

very simply put its a beginners game.. and beginners are beginners they simply are not educated enough in real estate to be dealing in these transactions... so its really the blind leading the blindand not sure where you think all these sellers need help from unlicensed rookies... granted everyone has to start somewhere .. but this wholesaling because of what goes on on the internet is just over run with begineers and those who simply are not ready for prime time.they are learning their craft from ceral box  is all they are doing..

I will also add the Turn over in 1 bedrooms is quite high, I bet they average less than 2 years per unit, probably closer to 1-1.5 year tenancy, 1 bedrooms tend to be temporary and transient tenants, till they find a significant other and start a family, or need more space. turn overs get expensive. honestly the more i think about your deal the less i would pay.

TV, WiFi, Internet are as important as the Microwave.

Your best bet (as @Thomas Gagnon already mentioned) is a local bank or credit union that uses their own money (a portfolio lender).  

I bet the seller wont like that but you gotta look out for yourself. 

Jay, would you say jumping on a large apartment deal as a passive investor, or buy a couple of highish APR notes would be a safer bet at this stage of the game than buying 1-2 SFHs?