If they are legit and you don’t have any other offers then I’d have the conversation with them but I’d want a higher than normal down payment (ideally 50% or at least more than the normal 20%), a higher than normal interest rate (at least a point above the prevailing rate so like 9-10% right now, but you can structure it as interest-only payments so their monthly payment is still lower than conventional), amortized over 30 but with a balloon in 3-5 years, something like that.

If your goal is less required documentation, DSCR is likely your best bet as most everyone as mentioned, possibly a bank statement program depending on your job structure. 

(I realize there are alternate structures - this is how we are doing it.).

This structure simplifies management, centralizes ownership, and provides an extra layer of liability protection.Tax-wise, the state where each property is located will still require income tax reporting and LLC fees.

Large gifts, including real estate, may benefit from structuring around this limitation.

Structuring a 203(k) loan for your partnership involves some creative thinking, but it’s definitely worth exploring.

The book is useful for understanding how to structure deals, assess risks, and think like a lender, rather than just an investor.Pair this with engaging in forums like this one and attending local meetups to put what you learn into practice.

The very basics would be getting your furniture and shopping list together, keyless entry like Schlage (with backup lockbox with physical key very close as well), looking into insurance, local taxes for STRs, and moreAlot of ways to save time and make it easier to self manage with a property management software like Hospitable and data research like AirDNA.

They need analyze  the property, the deal structure, and the sponsor. 

Plumbing is historically one of the most difficult things to fight since age and the structure matter so much and it is nearly impossible to pinpoint one issue that caused the damage.