So my current goal with the property is wealth storage, building equity, and long-term appreciation and less about generating income. 

As far as tenant screening, you look for the same things you would in other areas: income, criminal history, evictions, landlord reference, employment reference and perhaps credit.

Hi @David Geiger,Appreciate taking out time and responsing.Here are more details about the deal.Here in India JDA split are most commonly of two types.1 ] 55% - 45% share is either Profit/Margin/spread generated out of venture split in 55% for Developer and 45% for Land owner.Or2] 55% constructed Units are marketed and sold/leased out by Development firm and revenue generated out of it is entirely for Development Firm, they own this share of project.45% constructed Units are marketed and sold/leased out by Land owner and revenue generated out of it is entirely for Land owner, they own this share of project.Then,  At the signing of JDA/JV agreement depending on deal size, some money is transferred as guarantee or token to land owners, which is adjusted to above Share split.In this case, $1,200,000 US Dollars are to be transferred as Guarantee or Token amount to Land Owners firmThis amount is later on adjusted to either Agreed upon number of Units or Profits generated.

I enjoy STR's and it allows me to pay off the mortgage quickly or invest in another property with the generated revenue.

Those additional costs, like any business, will be done to generate profit.There is a nature conflict of interest when they have in-house services.  

Lead generation service is different because an agent pays lead generators without any direct coupling of the payment to closing (but with an understanding that if the leads are nonsense it'll put an early end to the relationship).It's this situation that gave rise to wholesaling, because ultimately a wholesaler is doing that same deal-finding service, but they get around the licensing requirement by buying the property for themselves with an assignment clause, and then resell it to an investor at a premium that ends up like a fee but officially is counted as equity gains on a real estate transaction in their own name.

If you dont have a retirement from a big company that pays for medical and other things that us self employed have to pay for.. 

Lenders like income streams that have two years of history; if you're a W2 employee, you need two years of employment in the same field, and if you're self-employed, you need a business that demonstrates the same level of income for two years.If you buy some property for cashflow, a lender probably won't count the income until you've owned the property for two years.

I guess I'd even consider marketing it has a one-bedroom with an office, but my guess is renting it as a two bedroom would generate more revenue.

If you need a loan that won't take into account your income there are two that come to mind, Non-QM DSCR and Bank statement loans.A Bank statement loan is used primarily for a self-employed and will require 12-24 months of business or personal bank statements.