If you start at the beginning as I described.

A BPO could be as short as a one page letter describing how the broker's opinion is that this property is worth $xxx,xxx.

Dodd-Frank act killed it for you once you occupied the property.What you're describing with conventional loans will happen anywhere.Your best option is a Portfolio loan that allow you to occupy the property and get the rates and terms you're expecting.

They were described in the SAFE Act which the D-F Act incorporated.

This landlord described the deadbeat as "the tenant from hell" and suggested to avoid renting to him.

I have loaned to one partner who wanted to build a buy and hold portfolio quickly under a scenario similar to what you describe.

He describes this area and this investment as "higher risk area" but always cash flows.

However, some of the financial statements I have at are prepared in accordance with IFRS or UK GAAP and are very vague in describing their line items one he income statement.

Both of these do some prescreening of their contractors and both have detailed rating systems where people can describe what they liked or disliked about their experiences. 

The seller has described the brother-in-law as both unstable and possibly confrontational.The seller lives across the country and says he can't evict the tenant from where he currently lives.