This is actually one of the main reasons many agents and investors may not like them generally speaking (they are often not serious professionals with a proven track record of success, the vast majority are struggling to find their first deal and are time-wasters to interact with).   

For us, screening takes place from the time we (someone from the office) speaks to the potential tenant, through the showing, and the application process.

It may be required on a Commercial, DSCR, or Hard Money loan but I would encourage you to speak to multiple lenders to find out which specific loan program you need for your goals and qualifications. 

If you and the tenant can work things out amicably and determine a move out date + monetary amount for early lease termination I'd also speak with them about having permission to show the unit prior to their move out date. 

Ask to speak with some of their current owners and current/former tenants.

Speak to an advisor as I am not one but I believe Your cost basis is going to be an issue when you sellLet’s say you assume the loan today for $120k and in ten years you sell it for $500k.

@Nada MohamedI recommend that you speak with your accountant and several cost segregation firms to compare benefits and prices.

@Jason Porto generally speaking, I begin with around $10k in reserves for a new unit, and contribute around 11% of gross rent each month towards the reserve account (repairs, vacancy, capex).

I'm an out of state investor, therefore when I speak to some local credit union they request I reside in the area to obtain membership. 

This charge is currently not in effect and can only be levied after the Developer is no longer entitled to appoint members of the JVCA Board.