Verifying last 2 years of rental history very important!

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

However if I was an agent, broker, GC, etc I do not feel that it would be my responsibility to verify the underwriting.  

I've been investing in the immediate Boston area since 2013 and can verify that it is insanely hard to find deals that pencil.

Verify credit, employment, etc for you. 6) I would definitely want noise (quiet hours), guests, and treatment of common areas covered. 7) We've used Rent Manager as it focuses more on the financials which I think is super important.

Needless to say, many parties are involved, and they all need to be established and verified, or your business will suffer greatly. 

Can anyone verify this is OK or is it state by state-regulated based on their individual jurisdiction?  

This verifies the numbers even though they more often than not will always do their own due-diligence and come up with their own numbers.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

However the tenant may lie and Zillow doesn't verify much so another application may look great.