Another tip: I think if your schedule and time allows it, go and stay at the property for a night or two.

@Geovanni Cano sellers don't like FHA, it is meant for people with little money and very low credit score, plus you have an FHA inspection which can derail a deal a week before closing, nothing the buyer can do.

I use the 3x rent for my first barometer, steady employment, good credit, and of course 3 years of rental history.

Does anyone have any other tips?

Any tips on how to screen the tenants?

Purchase price: $145,000 I am the managing and credit partner on this investment.

I recently did one where the lender did allow it but that was because of our position as a great customer of the bank and our impeccable credit record.  

Any advice, tips, words of wisdom I am open ears!

CA there is NO possibility of a deficiency judgement on a purchase money owner occ loan.. borrower can walk and the worse that happens is their credit will have a foreclosure if the bank goes that route or a deed in lu. 

But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.