I want to make sure whatever property I purchase, will have a steady flow of income that exceeds my mortgage payment once I plan to rent.But, I feel that there are going to be some hoops to jump through considering I am 18 years old without any credit score.

You can leverage their credit and get them to qualify.

Same with court fees.By the way, my lease includes a clause for "Application of Rent" that says any payments made are applied to outstanding charges in the following order:Tenant-caused billingsNSF fees, late fees, service feesUtilitiesSecurity depositUnpaid rent (oldest to newest)Let's say the tenant owes $600 in unpaid rent, $100 in utility, and $50 for the eviction notice.

A SSN will be needed if you do a credit check.

Unfortunately the bank loan market has become really tough, with the banks tightening restrictions, imposing difficult metrics to deal with and applying commercial rates and fees to my property.I've been able to get a basic commercial loan offer, not what I wanted, but what I could get.  1m loan, 5% fixed rate, 5 year term, 1.25% fees and legal up front, and a lot of paperwork and hurdles to overcome yet to ensure I actually get the loan approved.  

At tax time, I've been applying depreciation to the house; how does this affect my actions or calculations now?

Save the money from the vacations and apply it towards your real estate ventures.Take one maybe every 4 years.

Tax Credits?

So it always better apply and keep it handy.

Can anyone reflect on the concept of pre qualifying tenant buyers for a Rent to Own program using criteria that is not as extensive as if they would be applying for an outright mortgage?