You can use a bank statement program, (1 year 1099) and depending on your schedule E or how you show your passive income or Schedule C depending on business tenure you can use just one.  

As you begin you REI journey here is a piece of advicecheck out this website for a great over view of a city https://www.areavibes.com/This website gives you a total livability score and you can see things like crime rate, housing, walking score and more.Best of luck!

It all depends on how your agent is able to convey the reason of the contingency and negotiate with the listing agent (As listing agents, they want to mitigate risks for their clients as well).For Condos in the Bay Area, you could be exposed to higher risk because of the new SB326 Balcony Law.

congrats my friendHere is one piece of advice I have for you:As you attempt to find what area to invest in, use this website https://www.areavibes.com/Its a great resource and starting point for what an area might look like and it has something called a "livability score".

Quote from @Trent Reeve: Quote from @Jay Hinrichs: Quote from @John Underwood: At our 3 bedroom Lake House we have both.At our 6 bedroom Pigeon Forge Cabin we have 2 drip coffee makers and don't have a Keurig.So I agree it depends on your property. seems to me coffee pods would be much cleaner and easier on the host ? 

The specific tenant type to target depends on your property and market.We don't require any insurance from the guests.

Make sure that your area states it directly.Otherwise, let the booking site handle things. 28 days isn't that long IMHO depending on the area or reason for traveling. 

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

Stats are not in your favor but forget the stats as it all depends on the individual's drive, effort and processes. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.