Do your same background and credit checks and other requirements that you do with every other applicant. 

Background: we acquired a property Dec 2021 using the subject-to strategy.

We still did formal background checks. 

With my background in IT, my only suggestion to you is to get something that connects via hardwire CAT5e.

The best background for folks in this industry is civil engineering, architect, trade specialist and so on.These are two very different skillsets. 

Dominic,You have a lot of questions which is great but the questions demonstrate this is your first REI and having partners can complicate things if not handled correctly. 

Just a little background, we are big on long term and big on passive income.

Just looking at numbers high level with no background on number of units.

I would focus on screening your tenants for background, credit, and income to try to avoid an eviction and excessive damage to your property to minimize your turnover expenses and vacancy loss.  

As someone with a CPA background, I emphasize more than anyone (perhaps with the exception of the truly amazing @Michael Plaks😄) that a nuanced approach is required for tax tool implementation.