Your insurance company is going to charge you accordingly, and you need to adhere to whatever local/state regulations there are regarding pools and pool safety, and picture/document everything.

I know it's hard to find someone that you trust, but they are the best choice since they are trained, licensed, and regulated. 

Is there an HOA that would have regulations or town ordinances they are violating?  

The appraisers are regulated and the forms are regulated.

If it is in Philadelphia, there is a whole lot more you will be required to do to comply with rental regulations there.

There are loans that allow you to qualify with bank statements but they still generally require a 2 year self employment history.If you're buying an investment property, you have more options.I completely agree that regulations have made qualifying for a loan way more difficult than it should be, particularly for people with an excellent credit history.  

Just another example of too much Government regulation... 

If you can do this legally depends on local regulations.  

You live in the high tax State with all the restrictive regulations.

After closing, paperwork is filed with the county or whatever municipality regulates property in your area.