Even if you can make it work, the universal FM loan application requires you to affirm that you are not borrowing the money you are using as a down payment.

Number #13) Finding a tenant & run application/background screening are the most involved steps, so that probably deserves its own checklist.

Interest income is taxed at regular income tax rates, so you can make the case for paying the AFR (applicable federal rate).

Grad students have been awesome tenants because the school administers background and drug tests during the application process, they're ultra-motivated to be successful in school, and have financial aid: so they know where rent will be coming from all semester.Our next move is looking at a triplex that we would move into for one year in order to do FHA financing and only have to put down 3.5%.  

We would charge a $50 violation fee for this.Then, we would determine if we would need the new occupant to leave immediately or if we were willing to allow the new occupant to go through the application process to qualify to live there.If a guest establishes residency, in the eyes of the law, then they become your tenant.... with or without the lease saying so... and they are entitled to full rights of tenancy.

Are you planning on turning down C class applicants that apply before your A class millennials even if they meet your qualifications?  

Hopefully you will have a healthy pool of solid applicants after the turnovers are complete so you meet your income projections.   

I have seen some great spreadsheets to help estimate cost however does anyone know about applications that allow image overlapping ?

The only applicants that filled out an application do not fit the requirements.

I completed some online applications one came back unlikely because of experience and others would require around 15k cash.