Our initial application gets their current residence, how long they've been there, landlord contact info, employer, salary, how long they've been employed there, family size/status, pets, cars (years and type), whether they've ever filed for bankruptcy, had a felony conviction, owe any outstanding balances, and other similar information.

@Pearl Johnson Outstanding!

Outstanding product by Niagara - Stealth elongated bowl.  

Net worth is the value of all the non-financial and financial assets owned by an institutional unit or sector minus the value of all its outstanding liabilities.

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent.  

If they work the same as mine, you only pay interest on the balance outstanding at the end of each monthly cycle, right?

Outstanding Account Balance: will accrue at 18% annual percentage rate effective immediately upon move-out and return of possession to Landlord.

I guess one of the main issues is that I'm not sure of is how his ability to borrow will be affected by outstanding LOC, hard money, conventional, and portfolio loans.

of ALL improvements (whether preservation or otherwise)The cost of casualty insurance premiums, plus 12% per annum interestAny improvements made after the redemption demand are not recoverable by the investor.All rents collected or earned before the redemption demand may be retained by the investor.Knowing this, especially the information about preservation improvements, should make you feel more comfortable about making tax sale homes habitable and rentable, even though there are still outstanding redemption rights. 

@Mark Parzych I like your point about the upgrades and differences in costs, especially installing them now and now that you are going to sell your rehab.If you want to become a real stickler owner, you can create a punchlist of all the outstanding and deficient items (like the not straight outlets), and then go around and mark everything you see with little pieces of blue tape.