By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.Look for longterm tenants.

Another option to consider is to just do a regular speck build.

I'm personally someone who likes to collaborate with someone I trust so it would mean talking to that person regularly and forming a strong relationship.

Will it work for regular SFH?

Take the time to ask around to find a competent real estate attorney that works regularly with investors. 

You can store the tenant's stuff and give them some time to pick it up and of course they would owe storage fees on it.

Bank loan... regular old bank loan.

Here in TX, we see leases that are not compliant with current rules pretty regularly. 

@Tom Nguyen I have a company we use regularly for exactly this, it's worked out fantastic for us in time saved etc etc. 

Just using the 1% rule will get you in trouble in this market.Regarding going through a renovation- Get qualified for both a regular loan & a renovation loan.