You may not collect anything, but it will sit on his credit report and prevent him from getting a car loan, home loan, or scamming another landlord.

YUP minimum requirements.. although you would be surprised how many folks cannot get a bond because they lack credit score.. this will weed out the really poor players and give state a vehicle to regualted those that violate the laws without all the grey area currently.

Some lenders offer construction loans, or you might consider a home equity line of credit (HELOC) after acquiring the property if you build equity quickly.Long-Term Goals: Consider how this fits into your long-term investment strategy.

With your good credit you can get in to a home for just a few % down.

My first property was tough, (credit not in place was a challenge - luckily, got some help on this!) 

When you do it, you show your cards, but new people don't knew because they are thirsting for help and will take it from literally anybody.

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

I think this is something bigger than many of us realize, but this is just the beginning of the house of cards. 

I think I would be more worried about the credit than I am about the DUI.

Some may give you owners address if different from the property, some may integrate with post card and yellow letter mailings.