Short term tenants are not protected by the the eviction ban.  

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

That is just not realistic in this current market.So in my opinion it's important to expose yourself to a large number of deals, so you can develop an intuitive sense of what's reasonable and what's not (and quickly discard the ones that aren't).And it's true that there is no way to 100% protect from fraud (and not just in passive real estate investments but even in public stocks etc.).

It offers flexibility as a landlord to be able to offer more or less rooms as needed, protection to the landlord in that you can hedge with adding LTR or STR to the mix, and simplification to the business as your only dealing with one address.

They are designed to protect the seller (I have disclosed this), but not to substitute an inspection by the buyer.Sellers can only disclose what they have knowledge of.

Maybe they've been burned by landlords in the past and are being very careful.You can legally reject them based on personality, facial tattoos, body odor, or other factors, but you better make sure you can prove that it wasn't based on any protected class like race, religion, familial status, etc.

We go above and beyond when it comes to protection.. starting with insurance coverage, sings in the listing and in the property that there is no guard on duty (as silly as that sounds), putting extra locking device high enough so youngsters can't reach, an alarm/beep system to alert them that door opens for those with small children (or elderly) so they cannot wander out in the backyard with no one noticing and risk drowning.

The tenants should have renter's insurance to protect you.

In these instances typically the lender will pay it to protect their interests. 

Ask any asset protection attorney, and they will recommend WY, NV or DE as best states to use.