Research the area, look at reviews, called several property managers, give them some common situations that occur to see how they would handle that personally, made sure they were familiar and had knowledge about the market they are managing in.

They're not that common here either and I wish you'd be quiet about them! 

Just be aware that most lenders want to see a full year (most of the time two) of self employment income to qualify you. 

Here are some thoughts for you.A lot of lenders will want two years of work history in one field of employment.

Anyone know if this is a common issue?

I believe vacancy costs are covered by ownership but perhaps this isn't common?

Does this seem crazy or is this common?

You are employing them and you can switch.

. - Verification of employment and/or income (or rental subsidy) amounts. - Public records regarding civil court records. - Any other information provided by the applicant (such as anticipated length of tenancy, tenancy commencement date, etc.). - Any offers or proposals you may choose to make to us (additional rent or deposit funds, extended lease term, guarantors or co-signers, etc.).

There are some 3% conventional loans, but very few. 5% is fairly common, as is 10%.