I have on property I'm going to fully remodel in the coming weeks and three people have already asked to be on a waiting list to submit an application to rent it out.

By way of example, I've expereinced instances where the design professional submits drawings and once approved by the municipality, a contractor must associate with the permit, in other instances the contractor must be listed on the orignial submission and in other cases the contractor is the one responsible for submiting the permit set and permit application.

In order to make sure you're optimizing your tax advantages and adhering to all applicable requirements, even while I can offer broad advise, I suggest speaking with a tax professional or accountant who is knowledgeable with real estate taxation.

Another time a couple told the mortgage company that they were getting a divorce, which sabotaged their mortgage application. 

These business limitations are not applicable to small businesses.

At least 70% of the agent-driven applications we get for one of our listed rentals is a waste of time.The agents are ignorant, lazy or both.They expect us to chase THEIR client for required documents and they nonstop complain we're asking for too much - when it's all right on our website.We also take over management for new investors and many times their agent was again, ignorant and/or lazy, and didn't require leases, rent ledgers, tenant contact info, etc. as part of the purchase contract.

Another note on the renters insurance conversation.Even if renters insurance is applicable in this case, there would be likely be a deductible that applies. 

In the meantime, please completely fill out both the Rental Application (included with this letter) and the Lease Agreement.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

The person you spoke with may be referencing earnest money deposit (buyer showing the seller they have skin in the game; this can be refundable or non refundable).Some lenders require an application fee (junk fee) and those lenders typically are more expensive to begin with.