Beyond the formal checklists: no evictions, 3-4x income to rent, prior landlord references, employment checks; I would also look at things like responsiveness to communication when we are setting showing, were they on time to showing, did they look me in the eye and shake my hand, did they show up to showing high?

I accepted a prospective tenant's lease and deposit after doing due diligence. The previous leasing company confirmed the resident had paid their rent on time every time. The tenant paid his deposit in cashier's check...

You never know when you’ll need to refer back to these records, especially in case of a dispute.

Pretty much a regular Florida weather breakdown.

That, I am sure, has cut down on any dog tracking in stuff as they do get used regularly.

Lastly, try to regularly assess and adjust your goals as your financial situation and priorities evolve, which will help keep things balanced and flexible.Keep learning and growing!

I haven't responded and prefer they send a regular mail letter to my PO BOX.

I have used two companies, and while they are both more expensive than regular insurance, they have extra coverage that is specific to STRs.  

@Zeeshan S.The funny thing is that the first two companies came recommended and I tried to vet them and talked to references too.

Even though we do run credit and background, I refer to us as private money lenders rather than hard money lenders based primarily on the cost of capital.