If things go that late, then the redeeming party must also pay the legal fees for that lawsuit.

With the market hot, you'll want to make extra sure you're running conservative numbers. 

It integrates with third party apps too, like Ring so you can manage cameras and locks through one app.

The best part is if you don't use it you don't pay for it, unlike a cash-out refi that you'll be paying off for the next 30 years.

There's always a chance you can get all parties to agree to end the lease early or adjust it.When a lease expires, you can terminate.

I am using most of the same numbers for all of this in my initial analysis as I want to be very conservative with my numbers. 10% for property management, a higher amount for insurance (depending if the property is in a flood zone I will add more) and maybe $150 in utilities that I would have to pay month to month.

How would you let the bank know that you can move forward with the deal without letting on that you received the down payment funds from a third party?

If you are planning on self-managing, you can create your own LLC for this, then pay yourself the 10% fee & establish a W2 income stream from your rental portfolio.2) How "conservative" are your numbers?

We are, however, looking to tackle the challenge at getting funds, so that part is correct.  

That makes your other numbers off, As a conservative investor I use 8% as vacancy or 1 turnover per year.