However, it's important for landlords to apply this question consistently to all applicants to avoid any mistaken appearance of discrimination. ~ Ran FRIDMAN PROPERTIES FAMILYI don't think you mean this literally, because treating everyone like family is a recipe for disaster!

Keep your emails to all applicants showing that you communicated the same criteria to everyone up to a certain date and then changed it after a specific date.

I recently heard from my tenant about consistently high water bills—over $1,000 each month.

I know its expensive but you will be well protected :)Or you save a lot of money and be better protected by doing this consistently and well:-carry appropriate types and amounts of insurance-sign contracts with indemnification provisions- obtain all necessary licenses and permits to operate your business-ensure all vendors/contractors are licensed and insured and list you as additional insured-sign well drafted and fair leases and be a responsive landlord -be an active owner or hire an active PM  who avoids or at worse timely eliminates premises liability exposure The strategies you often read about are sold by alarmist asset protection companies who fail to disclose how impractical they are.

Communication is key!

I am about to submit to the IRS my log of 500+ hours working in the STR business, most of which come from communicating with guests, cleaners, maintenance people, Airbnb, VRBO, and managing supplies, shopping, bill paying, pricing, calendars, all the daily and weekly tasks. 

Looking forward to staying consistent & closing my first deal in the next 3-6 months.

However, communication issues with Lacey began almost immediately—she took two weeks just to send me a contract and was frequently unresponsive, blaming weather-related issues.She advertised the property as highly profitable, but when I asked for proof, she never provided any.

It sets an expectation and is a form of communication.

They immediately stopped paying rent and stopped communicating.