Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

The process of selling is a bit more complicated and is a much larger transaction that can have a lot of nuances depending on the deal.

They are more likely to not pay there portion of the rent, more likely to destroy your house, and more likely to squat / drag out an eviction process as long as humanly possible. 

I also make sure the tenant is aware that I got their communication, where I am in the process of getting fixed, and when they can expect it to be fixed. 

Thanks for calling.If they fill out a written application, then you will send them a written denial.You don't have to process the entire application, either.

In that case I’ll want a real estate attorney for the closing process.

There has to be an account in the middle for repairs, renovations, etc. and you want to know how that will be disbursed and if you need a workflow between you.If you decide to do it, just start small with an asset that is as close to can't lose as possible so you can fine-tune your collective process.

I'd like to know other landlords' experience of the application, placement, inspection, and renewal process

There are going to be three levels of addressing this 1) things you can simply go there and do anytime (pick up pet waste and throw it away) 2) things you can do given proper notice (enter the unit and inspect, repair damage etc) and 3) things you can only do given proper process/procedure (notice to vacate, increase rent etc.)

Keeping tenants informed and satisfied during the process ensures smooth occupancy transitions.