There is a difference between having no cash and not putting cash into the deal.There are sponsors that put little to no cash into a deal but have good net worth, liquidity, experience and track records.That is very different from a sponsor as an example starting out that essentially has no experience and no money to invest in a deal just time and labor.

I was up front with my lender before hand about what I was doing as it will definitely make the paperwork less confusing if they know your strategy before hand. 

For the record, we have given her 6 month leases for the last year and a half.Now my question is, I don't do month to month (too much paper work and uncertainty) but considering COVID times we're living in should I accept the month to month or find another tenant (which isn't guaranteed)?

Hopefully that PM is very good at answering your questions before any paperwork is signed and is also vetting you.

Is it just me or is conventional now costing about the same as DSCR and of course everyone prefers less paperwork if it’s the same cost… Are others seeing this? 

Then once both parties sign, engage a title company to handle the remaining paperwork, movement of money, and transfer of ownership.

Essentially, if you get an FHA loan 3.5% down, and qualify for 5% Down Payment Assistance (DPA) that 5% DPA will cover the 3.5% down payment and 1.5% of the closing costs.

, 2) get added to the basis and essentially only have 26 years of depreciation (27.5 - 1.5 years), 3) go onto its own, separate 27.5 year timeline, or 4) something different and if so what?

I can essentially serve as a property manager: tending to the house (cleaning, maintenance, etc), working and coordinating with any affiliated contractors, and I can even perform rent-roll, T-12, or DCF financial analysis for you on the property, or look for other properties as well.

I would look at submarkets outside of downtown as well, given the lack of people working in offices downtown for the forseeable future, restaurants and bars essentially closed, the appeal of downtown is not there right now.