There are hiccups if the landlord hasn't completed their end of the paperwork or requirements through the online portal but nothing that was a crazy delay. 

This would be subleasing and it would require the landlord's permission.

They are ultimately the same thing but I know that many lenders require seasoning.   

😎I've never required my SF buyers to get lender's insurance in my dozen or so sales, but I made sure to use a REC, not a Note and DofT. 

Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities.

You can submit maintenance request, manage leases, request additional payments, keep track of multiple properties, reminds tenants that payment is coming up via email and when late, and it's free.Stessa is also major to have.

They are monitoring what I do with the money, in the sense that they’re withholding a certain percentage of funds and requiring me to have inspections done, etc., as a way of ensuring that I put it towards a renovation and not just walk away with it.

I am curious what all the shady stuff these investors are doing to require such intricate setups.

Sounds like you are trying to do a Lease with Option to Purchase.This requires 3 separate documents:1) Lease2) Option Contract3) Purchase contract triggered when tenant enacts Option Contract.National statistics show that around 65% of Lease-Options fail.

Also don't forget that you can house hack a multifamily with 5% down, but buying a multifamily as an investment property requires 25% down.Good luck!