As always, this can be mitigated with proper screening of applicants by verifying rental history and contacting prior landlords about the prospective tenant's past.

You also didn't state anything about how you verify income.We get a YTD paystub (only need one!)

The power company supplied and installed the new meters (at no charge, at least not yet) and verified all the work around the 4 gang meter pan was done up to their standards.

I say "may" because while I have read about this in several places, I have not personally verified this to be true.I usually pay contractors by check the minute the work is finished and approved.  

@Chris Magistrado if she knows what she's doing and consistently keeps a sharp eye on what's going on it's possible.Should have local "inspector" that can verify what's done and how well, before paying contractors.

Please verify this with your own tax professional.

Make sure to verify any information from a party that doesn't have any advantage of you getting their services before making a decision.  

This is how banks verify property owners maintain insurance.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Verifying last 2 years of rental history very important!