I realize this is higher cost financing and might not be popular for that reason.

When in doubt, have everything agreed to in writing to avoid any disputes that may arise when situations like this are present.

It's only a few minutes away from a very popular college, movie theaters and malls. 

In the Uk, a popular trend called rent 2 rent peaked my interest.

Lots were 35k/perI have just recently bought a few more 2 fam lots nearby in a popular neighborhood in slinger wi, these lots were 79k/per.

If they ever do, or a situation arises where I instruct them to read their lease, you need to make it as idiot proof as possible.  

There a few ways to do this, but a popular method is to use a HELOC to make a lump sum payment to the principal.

@Mitch Hohlen:Most residential loans are 15 or 30-year amortization. 30 is by far the most popular because it maximizes cash flow.Yes, amortization is different than the term of the loan, although with residential loans they are usually the same.

Nevada also has established series llc law and no charging orders, I believe a trait shared with Wyoming and hence their popularity as well.

Contrary to popular belief, landlords are not sued often for anything more than security deposit returns in small claims court.