I also have used apps to collect payments,  but don't like cloud programs for reporting or financial data storage.

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

After placing a tenant, collect cashflow.

Innago does everything that we need it to: communicate with tenants, listings, applications, leases, maintenance requests, invoicing, and rent collection...

Let's say it leaks for days before detection, lots of water damage to kitchen cabinetry/floors, and it's determined the new water filter system was the culprit.Now the owner is trying to collect to remedy damages. 

I've aalways considered an outdoor pod as shown here:https://privacypod.ai/collections/outdoor-podsIts all prefabricated and everything... 

Also you might charge your tenants a higher amount, but I wouldn't want to go that way as owning and running this business is more profitable then just collecting rents. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Negotiate with CreditorsIf you have missed payments or have accounts in collections, contact your creditors to negotiate a payment plan or settlement.