It is quicker not to do the check but you are getting a lot of non-health care people these days and they don't have backgrounds done by the employer so you are safer requiring them.

     For those that are interested in the rent by room model you may have heard the news.  Padsplit started up in Arizona at the beginning of 2023.
Co-living or rent by room is not new to Arizona.  Several investors ...

That said, you are far away and if you don't have any alternatives, then that's what you'll have to pay. 

Alternatively, if they are undervalued properties that need some TLC you could go that route and force the appreciation.Hope this helps!

Then once you have more experience if you want and your business has taken off and you have the 2 years of tax returns to then focus on the alternative forms of financing.

Obviously, it's going to put me in a safer spot if I raise the rent to market value, but this is also my first time dealing with a rental property out of state, so I don't want to come off too hard.

In six months, you will have done more research than most on these two alternatives, and you will have your answer. 

As a Realtor you might want to consider an alternative game plan.

value adds, flipping, alternate rent models such as STR, MTR, rent by room  can help with the return. 

The main benefit of an LLC over home insurance is that it provides personal liability protection, so if something goes wrong, your personal assets are safer.