I would say on a rental property that's unrealistic, if it really is an issue on a property, better to address the root cause.

Focus on absentee owners and start with the ones who live the farthest away and only own one property in the area since they have the least use for the property.You can also drive for dollars, looking for anomalies of disrepair and then look them up in the tax records and use a site like Spokeo to do cheap skip tracing.

So you can find better performing investment properties.

Hello,My wife and I recently found a property that fits all of the things we are looking for, perfect location, price, rooms, etc. except for one problem: The previous owner was a smoker :( Does anyone have experience buying/renting out/living in a home previously owned by smokers?

I know for our portal in Buildium owners can log in and run different reports like income statements, profit and loss, general ledger, etc.

I  Income:  The amount of property you can buy will be dependent on your Debt to Income ratio.  

Also make sure to have owners add you to their property insurance policies, so you have liability protection. 

Secondly, short-term rentals provide flexibility for owners, allowing them to potentially use the property themselves when not rented out.

Quote from @Brandon Weis: We have historically had in our leases that renter's insurance is required, but we had been lax on enforcing it because owners didn't really care and not all tenants had it.

Most banks don't really know how to do that because they cater to SFH owner-occupants.