Based on what you've said, you should be able to make 2x rental income and account for 20% vacancy to be conservative. 

You could ask that they put a year or so of savings into a separate account on which you have view access or receive a monthly statement so you can see they have the ability to pay future rent.They aren't going to last without other income or savings with income at 1.25x rent.

We want to avoid letting money just sit in the bank account when we know we could be making it work for us.

I have attended plenty Padsplit events and talked to my Account Executive (AE) and some veterans from Padsplit (the real expert, not newer sales person), and some Padsplit investors who own them and love them. 

@Rick ImI have an expense account called "Failed Real Estate Escrow Expenses " (in QuickBooks) for my flipping business and bookkeeping clients.

They have degrees and interests in different segments of what I think are important facets of the real estate game, one will be graduating with a degree in construction management and the other in accounting.

Would hole contractor more accountable and pull plug quicker.

I also have about $200k invested in the stock market (not retirement account).I’m looking to buy my next investment property to grow my portfolio.

Obviously, I’d have to account for utilities and furnishings- I want those that have experience in this area and then maybe I could converse more on such items to look to before signing a contract.

It did cost more money than expected due to vacancy that I did not account for.