I saw JPMorgan tightened their lending standards and it made me wonder if others followed suit. 

They want to know your experience level, how much you have in cash reserves, your credit score, and a pro forma on the asset.If you have no money to put down, and you don't have a lot of liquidity its going to be very difficult, especially now with lenders tightening up.Usually you would provide a pro forma on the property you want to purchase, then you provide back up docs showing your personal financials.  

In down economies, more people are unable to buy homes because lending standards tighten, costs of home ownership are too high, people get scared to make a major investment in economic uncertainty etc. 

Most of the challenges can be worked around, but they strain the ROI.

If anything, in this era of eviction moratoriums and delayed evictions, we should be tightening our screening criteria, not relaxing them or making exceptions. 

That is for you to answer.The biggest reason to choose LTR instead of STR is the extra effort (time and mental strain) involved in managing a STR.

Once an inspector views the property during the option period, you should be able to tighten the figure a little like @Aj Parikh said.

But with banks tightening up on what they can/will do w/ investment property financing & rates seemingly on the way up, it's good to talk to a non-bank lender (can be referred to as a private lender as well, typically some people call a private lender someone who does short-term financing in their direct market) and get a quote.

Insurance companies are really tightening up and I think until the roof is replaced you're going to be paying high premiums or denied altogether.

Water leaks must be promptly reported to us.I have an outgoing inherited tenant with whom the relationship has always been strained.