For us we all typically use 0% business credit cards to furnish the property which can amount to $40-$60k+ depending on how crazy you go. 

This section of the guide helps me to better understand how you can use the www.mysmartmove.com in conjunction with other forms of background checking:The Tenant Credit Report: The tenant credit report will contain a wealth of information related to the tenants credit history, including a detailed list of all the tenant’s open or closed credit cards, car payments, monetary judgements, late payments, and more.

That led to uncovering significant water damage throughout the first-floor unit's bathroom, forcing an immediate renovation.

What happens if a tenant causes significant damage?

We are fair housing compliant regarding animals.Our tenants’ safety and the peaceful enjoyment of their home is important to us, so we do a credit/criminal background check on all applicants aged 18+, as well as employment and prior landlord verifications.

@Jeff SkinnerRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I looked around and found lenders that will do a day out of foreclosure up to 50%LTV down to a 500 credit score but the loan amount minimum must be 300k.

He doesn't have to worry about a rough needing replaced or a tenant causing $20k in damages after one year living in property.  

Maybe some credit challenges.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?