That system will definitely get you ahead of the curve and cut down your trial and error in this business.

First, I would try to cut the expenses as much as possible (temporarily).

I'm not a huge stickler for weight although in our larger (80+ unit complexes), we are generally on the smaller side and typically have a total pet limit too (usually 2 or 3 max).I also would say that I encourage allowing pets in apartments if the tenant is paying for it for two reasons.1)If you restrict it, you're cutting out a very large % of the poplulation (see here for a nice infographic explaining - http://dailyinfographic.com/which-states-love-dogs-the-most-infographic). 2) It's more revenue and therefore more NOI and therefore more value.

I'd love to get my hands on one of their machines that can cut a key off an image.

I once had a tenant cut out a 6x2 sq ft section of drywall to mount an aquarium in the living room wall.

Regardless, while your opinion that this could be a short cut, here in CA it is common, if not typical to do a second layer before stripping, the is no downside and it is not considered a "short cut" here.

My husband has started a new job that takes all his time and I am just not cut out to be a low income landlord by myself.

The major problems we see are that condo boards can choose to turn the complex into rental restricted with enough votes (meaning no rentals or only percentage can be rentals), special assessments or raises in condo fees could kill profit potential, and losing FHA eligibility could cut sales potential in the future if you'd rather sell than rent.

Really.....Or why there are so many trying to do any deal with others......because they can't cut the mustard themselves without enlisting others to work under them.....wake up!

(not to be confused with the borrower's amortization or term) In other words if you have to strike the deal at $70k, you will want to cut your investment term down by working with the borrower to refinance the entire 'new' balance before the 120 period maturity or somehow pay you in full (they could sell the property, too).