We've started to take a more professional approach, recently automating rent collection, getting an umbrella insurance policy etc.

Speaking of which, if you don't use income minimums, immediately institute 3X or 4X income requirements.Having the income requirement coupled with the no co-signers policy should eliminate most students from qualifying for your rental. 

I would visit the Island prior to investing.  

One thing that confused me about the CT application: "Salespersons & Broker Associates must be sponsored by a broker within the Reciprocal State at the time of application" is that referring to a NY broker sponsoring me prior to the CT application or finding a CT broker to sponsor me when applying?

And boy did it run - constantly even though there had been no rainfall for a couple of weeks prior.

I would suggest the homeowner review the docs that were signed prior to listing the home to determine what fees if any they would be looking at.

I was not forced to change the insurance policy on my home.

Check out this prior thread, I made several posts about how to use a pay-for-delete letter, which in my opinion, is the most powerful credit repair tool at your disposal.

We have a minimal data standard that we must have prior to even pricing the loan out.  

It was rented for $600 prior to being foreclosed on so she knows she's getting a deal, and we should have good cash flow when she moves out.