Do they meet at lease 3x rent amount in monthly income?

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Some cool benefits include expense tracking (per property), the Lease Indiciation Tool (helps predict the likelihood of a tenant renewing the lease giving you the chance to renew early and/or increase monthly rent if you know someone wants to renew), Tenant Communication (via their app), Maintenance Requests, Tenant Payments, and more.

If you don't feel good about the applicant you can tell your pm I don't want to lease to them Remember even though you have a pm, you're still the boss lady!

Each time, our tax accountant was able to leverage our renovation costs, and lower our taxes.It makes sense, you usually have to spend the money before you can list it for lease, but again, I highly recommend confirming with your accountant.

Quote from @Clay Lyddane: I have been an accidental landlord for a while , took over a 600 acre farm in Kansas and have been leasing it out for about 20k/yr --no mortgage and about $1500 in taxes and $15/mo for water.

I know Welcome Home Milwaukee and MKE Leasing does so in that case, you sort of really kill two birds with one stone since they not only are familiar with investment property but can give opinions on market rent, neighborhoods for your price point, repair estimates and value adds and even manage your other unit(s) if you want to remain discreet as far as being the owner.

My lease requires renters insurance.  

Minimal repairs allowed for quick leasing and steady cash flow.

Lenders still want leases or market rent estimates, appraisals with rent schedules, and proof of reserves.Final ThoughtsIt is easy to see why DSCR loans have become so popular.