Hi @Adam Burrows, wanted to give my 2 cents from an estate planning/asset protection background.

Full background checks to make sure your not letting a serial killer under the same roof.

It is so dominant here in the US.

In other words, it's the jerk who doesn't give 24-hour notice to enter the apartment and who is renting out a dump with a broken hot water heater to a tenant with no background check that will have the most problems.Since you're local, you learn how to work with local tenants, property managers and contractors.

@Anthony Roberts per our knowledge, Toledo has a lot of Class C properties/tenants.So, most of your applicants/tenants will have FICO scores under 620, many even under 560.For this Class of properties/tenants, we only look at the background check for violence-related convictions, evictions and utility collections (can they get utilities in their name?).

Given your background in bookkeeping and real estate, you likely have a good sense of your capacity and risk tolerance, but consulting a legal professional might still be a good idea.

Instead: Look at what else can you do to dominate your market. 

Haven't seen the other two come to fruition...or if they have, I haven't found out.Demand might be really high right now, but it would likely be dominated by people trying to find someone to pay the full contributed capital for worthless positions in failed deals. 

Call any attorney in your area to confirm.Also, don't go so low to personal assaults on my background.

Anything over 30 days is considered a long term rental, so you will need a lease, do background checks like you would with a LTR.You could do well with that strategy.