@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

Loan sizing varies by market, but in most areas your loan will be sized to 75-80% LTV; 1.20-1.25x DCR; 30-year amortization.

The structure also allows for mitigated tenant and maintenance risk, but it has increased dependence on market movements due to being appreciation based.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

In my day job I do SEO for a digital marketing agency and I am more than happy to talk SEO with anyone who has questions.I'm interested in Long-term rentals, though admittedly, finding deals below market value and funding those deals (not to mention I honestly have no idea have to put the deals under contract in the first place), are problem the first things I'll need to learn.

With a HELOC being around 9% I'd probably be paying more in interest than the money would make in the stock market.

Do you own your own house? 

If market appreciates you can get a HELOC on it or cash out refi in a few years to scale faster.

Hopefully we will be managing a handful of other STRs in the same market in the future.

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.