If he needed something beyond the standard business forms and Schedule E, I could give him limited access to my Baselane portal, just like my bookkeeper had limited access.

It's standard contract.

It is standard practice and component level depreciation is encouraged by the IRS.Though it is very important to track you time as you go along.

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Fortunately I have all the standard contingencies.I also question what is a fair price for insurance.  

They’re not a standard DSCR collateral choice.

Rents increases are not standardized and should be kept within the realm of market rents.

If you can't perform to the new standard were setting, I strongly suggest stepping back and hiring one of us who are setting this new standard. 

For instance, mismatched names, employment details, or salary figures should warrant further scrutiny.Urgency to Move In: Applicants who are unusually pushy about quick move-in dates may be attempting to bypass thorough checks.Reluctance to Provide References: Hesitation or refusal to provide contactable references from previous landlords or employers is a cause for concern.Cash Offers for Faster Move-In: Proposals to pay a significant amount up front, especially in cash, to expedite the moving process can sometimes indicate an attempt to avoid scrutiny.Unverifiable Identity: Difficulty in verifying the applicant’s identity through standard identification documents can indicate potential fraud.Tips to Mitigate Rental Application Fraud:Enhance Verification Processes: Implement stringent verification processes for employment, previous rental history, and identity.

The standard rule is $250k per person who legally owns/occupies for the 2/5 year requirement.