In Texas it reads "an owner or the owner's employee who leases the owner's improved or unimproved real estate;". 

Apparently my realtor referred me to him and he has worked for her tenant who happens to be a employee of section 8.I have a meeting with the owner and property manager tomorrow.

About the minimum criteria for tenant, I was mainly looking at what Brandon mentions here http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-houseAbout the initial screening process, I am copy/pasting from the article mentioned above, but I will definitely give this more thought.The gross monthly income must equal approximately three times or more the monthly rentApplicants must have a favorable credit history.Applicants must be employed and be able to furnish acceptable proof of the required income.Applicants musth have good references concerning rental payment, housekeeping, and property maintenance from all previous Landlords.We limit the number of occupants to two per bedroom (per State law)Well, the questions will be in a format that will not give my game away :)I'm pretty sure you are absolutely correct in pointing out that I'll need the lease agreement before I show the place to people.

But you may want to gross it up and include the expenses paid by the property manager.

If you're self-employed without employees, you may also qualify for an Individual 401k plan.

In most cases in Manhattan and better areas of Brooklyn the incoming tenant pays the fee (usually 15% of gross rent however luxury units usually one month's rent). 

Accepting a partial payment in most cases will automatically void the Dispossessory. 6) Never take certified funds from a tenant who is an employee of the place where the certified funds come.

See below:Purchase Price $350,000Downpayment (25%) - $87,500Loan Amount: $262,500Loan Details: 30 Year Fixed Mortgage at 4.5%Gross Potential Rent: $2,200.00Loss to Lease/Vacancy - 5%: ($110.00)Monthly Principal and Interest Payment: $1,330.05Monthly Operating Expenses: $627.00Monthly Cash Flow: $132.95Cash on Cash Return: 2%Year 1 Appreciation: 5%Year 0 Value: $350,000 + 5% Appreciation = Year 1 Value $367,500Principal Balance at the end of the 1st Year: $258,265.26Principal Paid Down over the 1st Year: $4,234.74Depreciation:Value of the Land (not depreciable): $35,000Value of the Building (depreciable): $315,000Depreciable Years of A Rental Property: 27.5Annual Depreciation Expense: $315,000/27.5 = $11,454Estimated Tax Bracket: 22% - Tax Savings on Depreciation: 11,454*.22 = $2,519.88**Depreciation recapture on sale**Total Year 1 Cash Return on Investment: $1,595.40Year 1 Appreciation: $17,500Principal Pay Down: $4,234.74Tax Savings (Depreciation Expense): $2,519.88Total (Unrealized) Return on Investment: $25,850.02 or $25,850.02/$87,500 = 29.5% ROI

Although, I have seen furnished multifamily housing situation for traveling health care professionals, government/state employees, and students.

I’m a full time w2 employee and I have 8 units.