You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.

I have been working with investors over the last 3 years helping them find good deals on land in desirable locations and then building a new house on it to resell.

The first buyer is going to build a house.

Check out Camelback House condos in Scottsdale. 

Get an extra job, live off of nothing, and go put 3-5% down on a single family house hack.

I am about to flip my first house and I'm already learning a lot.

Requiring renter's insurance (separate from your property insurance) is also very important since they typically would not have the cash reserves to pay for a major damage such as water damage, ruined floors, fire/smoke damage, and you will be sued by 3rd parties if something happens to them while at the house if they have to go to the ER. 

My partner would not be living in the house.

(and yes, DSCR are personally guaranteed) The number of financed properties calculation includes:the number of one- to four-unit residential properties where the borrower is personally obligated on the mortgage(s), even if the monthly housing expense is excluded from the borrower’s DTI in accordance with B3-6-05, Monthly Debt Obligationsthe total number of properties financed (not the number of mortgages on the property nor the number of mortgages sold to Fannie Mae), with multiple unit properties (such as a two-unit) counting as one property;the borrower’s principal residence if it is financed; andthe cumulative total for all borrowers (though jointly financed properties are only counted once).

Also, is there a clause or addendum you use addressing the possibility of the property not appraising for enough when your buyer goes to refi to pay off a balloon and how the parties will continue?