However I've come across a few very good applicants who have great credit, little debt, and solid jobs. 

Typically 6 months of reserves are needed (meaning 6 months of mortgage, property taxes and insurance (and HOA if applicable)).

And in selling the notes, they frequently rely solely on the information the company gives them – which later proves to be false or misleading.COMMENT: This is not really applicable to note investors.Investors purchase the promissory notes, enticed by the promise of a high, fixed-rate return – up to fifteen or twenty percent – with a very low level of risk.

That’s definitely the ideal scenario that I was concocting in my head to convince myself to give them a shot, but without them showing much interest in submitting a more formal application I opted to deny the request.

Marcus,If you want more exposure you can list it on the MLS, and you will have to pay a fee to the agent that brings you the tenant then you will have to do a credit check and background check yourself for each applicant however for my clients I prefer to list it on Zillow rentals only, because I can manage the applications directly from there and the prospective tenant only pays $35 application fee once and can apply for different properties with the same application fee.

I have already put the property up for lease but have had no applications turned in, only phone calls and text messages about the property. 

@Sunghee Shin we handle over 100 S8 rentals in Metro Detroit area.The main problems with S8:1) Tenants not paying their portion of rent and utilities2) Tenants damaging the homeBoth can be decently mitigated by properly screening S8 applicants.

I have a rental applicant who has tax ID but no SSN.

Example: https://www.amazon.com/Temperature-Humidity-Indicator-Applic...

Send a return receipt certified letter notifying the tenant of the issue and if applicable their cost of the repairs.