I would also ask for the inspection checklist so you can ensure your place will pass inspection. 

If his income situation doesn't change though, you'd need to ensure that he vacates at the end of the lease term if he can't pay all rent up front again.

- **Eligibility Requirements**: Ensure you meet the eligibility requirements, which usually include income limits and citizenship or eligible immigration status.### 4.

Lenders: Strong connections can ensure timely financing, even with tightening credit standards.

**Additional Tips:**- Ensure you have a solid exit strategy, whether you decide to hold or flip.

Make sure to research local rates for cohosting and management services to stay competitive.If you're doing this as a side gig or part-time job, it’s essential to time block, create systems, set expectations with property owners, and establish boundaries to ensure a smooth experience for everyone involved.We opted not to pursue rental arbitrage for two key reasons: dealing with landlords and the significant upfront costs to set up and run a profitable STR without the benefit of property ownership.

Hiring a good property management company who's on top of things, or ensuring you or someone else you hire put aside additional time for property inspections on a more consistent basis.

Look for high-demand amenities in successful rentals and ensure the numbers make sense for profitability.

This includes hiring an inspector to check for structural problems, arranging for a pest inspection, and getting a professional appraisal to ensure the property's value matches the bank's asking price.

Even though they are the expert, you still need to ensure they fit you well.