I should also point out I don't personally use David Robertson's spreadsheet...I've just seen it and it's very comprehensive to use as a starting point when you don't know what things you need to look for and consider. 

There is plenty of free landlord software out there that will comprehensively screen your applicants (credit, criminal, and evictions) for almost every state and will allow you to look at the full report.

My investments are not local to Denver so unfortunately I don't know if any accommodations nearby but there are others on BP that are invested locally, e.g.

If my wife and I plan to clean and we don't have another guest arriving that day we will try and be accommodating.  

We set up an entity that will take title to the new property (called an exchange accommodating title holder). 

As was mentioned, make sure you comprehensively screen the tenant to see if they seem like they'll be responsible pet owners.

From a process and procedure perspective, does your process have an allowance for this type of accommodation to some tenants and not others?

Within the next 5 or so years I would have the opportunity to relocate to a new city for my job, so I am thinking this would be a good way to begin gaining equity in real estate, live with friends while I'm still relatively young, and have their rent payment help pay off my mortgage.Sorry for the long post, hope that it is at least comprehensible.

maybe join the Texas Apartment Association for a couple hundred bucks which allows you to use their lease. it's pretty comprehensive.

@Doug Pretorius thank you very much for your advice,  I will approach the property management company in regards to a lease option and if they are not willing to accommodate I will then start the hunt elsewhere !