If you are not familiar with lease applications/procedure/ and contracts, use a realtor to make sure you don't leave anything  out that can come back and burn you.

Banks rejected 1 in every 5 mortgage applicants last year.

It is definitely interesting what is happening and I could some see landlord and real estate applications coming soon if this keeps rolling.

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria. 

I always play it straight on loan applications for they can be enforced for 10 years from signing. 

I suppose I'll just wait until I find a good applicant and be grateful I won't have a vacancy this time next year. 

Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

During the escrow/title process, you are finalizing loan documents, reviewing title documents (HOA disclosures if applicable, title reports, etc), obtaining homeowner's insurance, and preparing to wire your funds to title. 

Not that it cant or wont, but unlikely.If OP applies for homestead on a new property, then I personally would not lie during the application about receiving the exemption on the existing property.

Navigating the Surge in Rental Application Fraud: A Guide for Landlords and Property ManagersIn recent years, the rental market has experienced a troubling rise in application fraud.