Then you can:1) Try to get as big a deposit as possible - emphasize that you want to give them back the whole thing if/when they move - but they need to take care of the place2) They will lose their assistance if they damage the residence.

I got a degree in busines at college which emphasized real estate.  

That is - re your point about DTI - how you document rental income.I should emphasize that you should definitely involve an REI savy CPA (before the year you start the business is over!)

(5)ENGAGE TRUSTED, RELAIBLE AND EXPERIENCED REALTORS - I cannot over emphasize this point, he who has no guide will likely fall into a pit.

I can't emphasize enough Jeff's point about an attorney familiar with private lending.

I got a college degree in business that emphasized real estate.  

Emphasize the fact that you are willing to solve the problem right now if they'll drop the price to something that meets your number.

I also went to college, which is not mandatory, and I got a business degree that emphasized real estate.  

The takeaways I have so far is get multiple bids, use subs if you can handle the management, and emphasize the long term potential of the relationship. 

I want to emphasize to her that my interest in REI is not to get rich quick, but to gain financial independence so that we both can spend as much time with our new daughter as she grows up.