They usually charge the first months rent and will qualify and show properties to prospected tenants.I recommend getting a PM if your investing OOS just to keep your property in order. 

FYI: If I keep I will be sidelined for 8-12 months until I can buy another deal.What you guys think Keep a fully renovate home for 66k in a C+/B- area or sell for 107k for the next deal?

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Just make sure any money exchange is well documented to keep things smooth down the line.

Keep it to the top 30 major metro markets (Austin is 30th, so nothing smaller), here is the full list. https://www.thoughtco.com/largest-metropolitan-areas-1435135. 

I agree in that the easiest way to go about this is to sit him down and in your best manner state that there are inconsistencies and you'd like additional documentation as you do have an obligation to uphold (in keeping the current tenants safe and ensuring this person is who they say they are).

a) you can still add to the principal so you can "carve out" your principle payment , with and without pre-penaltyb) both product is still working towards your DTI Now the challenge is the following in case you dont want to add into principal: if your home doesnt have appreciation ---> then IO only product is goodif your forecast appreciation is less than 3% and interest rate is expensive and you plan to sell within 5 years --> then IO only product is good but if your forecast appreciation is greater than 6% and interest rate is cheap and you plan to keep the house more than 3-4 years ---> then better choose 10YARM/30YFRM Meant to say this loan product is useful when one is able to visualize the amortization payment and carve it out.For example, in 2013 I purchase SF for 500K.

I sold a condo here, really wanted to keep it but HOA was badly managed, 4 increases to HOA fee in 2.5 years.

I'd keep things cordial for now...

The HOA never spent money on frivolous amenities, but spent it where it counts: keeping the building in excellent working condition.