@Tekota RubyIn this case, occupancy matters. 

From my point of view on the property I mentioned (which no doubt has completely different financials), the cash flow would be there so long as the tenants were there based on high occupancy rates. 

As long as occupants will take care of the property, I do not see any issues with the program.

,These EGI's can vary significantly, so I will have to include a fairly lengthy list of assumptions:-With a purchase price up to $550,000, you could certainly find great 4 beds in that range, so we'll assume a 4/2, 1,800 square feet, and waterfront with a pool-Property is in the Southern side of Cape Coral, currently experiencing high rental demand-Property is professionally managed being advertised across all popular STR platforms to achieve maximum occupancy at market value pricesWith those things in mind, during the busy season (October-March), you could expect roughly $250-300 per night at about 90% occupancy.

If you have 10 rentals that have all successfully collected for 1 year that is 120 months of straight occupancy!

Another option is to split the cost based on the number of occupants in each unit but this also means you'll need to adjust the charges as tenants move in/out, so it requires more work and I wouldn't recommend it.

What is the overall occupancy for similar units in the local area?

@Adri Jusczak My thought was to have the lease drafted in the 1st applicants name only with the 2nd applicant as an occupant in the property so even if they split the lease is with 1st applicant and he will have to pay rent no matter what.What are your thoughts on that?

Any damage caused by improper maintenance of the appliance or its malfunction will be repaired by the Landlord at the undersigned Tenant(s) expense.Tenant’s clothes washer and dryer will only be used by the legal occupants of the rental unit (as determined by the signed Lease Agreement, referenced above).

I've asked about occupancy rate but wasn't able to get a solid answer.