Many require RFPs from the prospective landlords.

I've seen a few houses that list as 3/2 requiring substantial rehab, but could probably become 4/2 with the right plan. 

Using 15% of gross rent to cover maintenance, capex and vacancies and you're left with $475.

If you use a software designed for long term rentals, you'll have less of those type of features, but you may get features that help with getting a lease signed, maintenance ticket tracking, and the like.

I would be hesitant to say its not required in Alaska, Mike.

When I wholesale a deal I require the buyer to pay all closing cost.

The required class seems to be a bit more hit or miss.

Some numbers for the house:Purchase price was 275k, current loan balance is 235k, projected sales price would be $450-500kThe current mortgage plus maintenance is currently $2,200. 

Ultimately the lender will require a personal guarantee from the borrower unless the property qualifies for non recourse financing (which is rare and generally applies to larger transactions than those contemplated or executed upon by BP forum posters).

A 15 year mortgage requires you to pay whatever the monthly payment is with no flexibility, with a higher payment.