If, a year from now, you have an extra $20k piled up because you have been serious about this, it established a bit of a track record and proves that you are a doer and not just a dreamer.I would also express gratitude that you have a partner that is so cautious.

I'd hate for a temporary dip in the quality of the tenant pool to be giving my landlord "spidey sense" false alarms on account of taking an extra month or two to fill a unit.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

Requiring occupant to have renters insurance is another possibility for extra protection.

I usually provide our budget as well with totals spent. 

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

If not on a state road, a muncipal permit is also usually required. 

This feature is again free unlike other platforms that usually charge per user.

You said, "I'll have to put in extra of my own money for reserves..."

It's usually someone with a high W2 income buying a primary then doing Mid-Term or Short-Term Rentals with an ADU.