Think of what an ADVANTAGE that would be if I could advertise in my rental ads that on-time rental payments would reflect positively on a tenant's credit score/history. 

More than a year ago, someone tried to pull a "local" version of this con game on me.

They do not report to your personal credit report, nor do they require a great credit score.

Case in point, I walked into a bank with 150K in cash and wanted a business loan to be secured by said cash with a credit score of over 800. 

You probably will end up tracking some of the numbers in Excel (or other software.)Most of us do bookkeeping at an office/home, not necessary when we are out, so this is probably a minor issue, but if you buy QuickBooks Desktop version, then you can only enter/view from where the computer is (unless you set up some type of remote access.)

Is the Resident score same as credit score?

This is especially true in Orange county where I keep reading is a very tight market.Think about working with a list broker to pull a couple of the new motivated seller lists - like Owners with Low Financial Stability Scores (FSS).

What credit score do you typically require for applicants? 

while having my other tenants pay the mortgage and provide extra monthly income.My plan is to invest in a rental property within a 2 mile radius of my college using an FHA loan - this loan is favorable to me because it allows for a very small down payment at 3.5% of property value, assuming a score above 580 (a percentage I can afford myself, and a credit score I have).

I am 22 and getting ready to graduate my nursing program with 20k savings, no debt and credit score of 775.