Verifying last 2 years of rental history very important!

Not to mention your what-if's are in direct conflict of each other, and Fed statements and history. 

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

We would NOT need to order a 1007 market rent report if we had either:1st months rent and security deposit2 months of rent deposits (canceled checks)If it’s a departing residence we could only use rental income to offset monthly payment (we couldn’t use extra income if 75% of the lease was 3,000 and mortgage was only $2,500 I couldn’t give $500 of income to boost DTI unless he has moved out of the home for some time and we have 1 year of history of being a landlord (which it sounds like we do, just not sure if he’s just moving out of this home).

You only need a place to track tenant information, payment history, maintenance, etc.

You only need a place to track tenant information, payment history, maintenance, etc.

They metrics I look at are rent to price ratio, history of appreciation and potential built in equity.

Check credit scores, rental history, employment, and references to minimize the risk of problematic tenants.2.

I really can’t comment on sizing like this on a public forum without knowing the history and size of the property.  

I have a couple of units and is working very great by the way we are building 30 units of suits apartments for Airbnb ( not for sale ) But if you are worried because of the all-inclusive resorts remember not all people travel to a new country to be 24/7 inside a resort there are many things to do in DR starting with knowing the culture, history, and of course the gastronomy and you will never find out that inside a resort.