My application process is very thorough but I find most people don’t want to fill out an application until they see the place and know if it will work for them.

You have to know how to screen tenants well, know the landlord tenant code thoroughly, know how to send proper notices, when you can charge late fees, what to do if a tenant doesn't pay etc.I can't tell you how many owners have come to us over the years who thought they could manage on their own and got all the way to court, only to find they didn't follow proper protocol with notices or the late letter etc and have the case thrown out and have to start again.Also, are you local to do inspections? 

That being said, here’s what I would recommend for a thorough DD process:-Build a plan in advance (setup a spreadsheet, meet with the team, etc)-be prepared to take a lot of pictures -document notes with each room (we use notes on Apple and share it with the team)-align the team on standardizing information (example: what does “bad” mean, what does “okay” mean, etc - everyone looks at things differently and you want to make sure the notes are accurate during your debrief)-bring in professionals for things you can see, like sewer lines hope this short list helps! 

After some creative landscaping (and a lot of guacamole), it became one of my best rental properties.From my experiences, here are a few tidbits:Do Thorough Research: Before the auction, I dove deep into property records.

Just make sure to do thorough research and fully update yourself on the changes in the local market to ensure strong rental demand and solid market data.Diversifying your investments by owning multiple properties spreads the risk and helps maintain cash flow.

Make sure to conduct thorough due diligence on the areas you're interested in, including neighborhood dynamics and the condition of the properties you're considering.

There are a ton of responses on here that have good & thorough feedback/criticism and I haven't read them all so disregard if I am being redundant here.One thing I haven't read in the first 10-20 replies is that your target client-base could be one of the most challenging to deal with. 

I appreciate you thoroughness in the matter but we will handle everything as far as that is concerned and give your buyer a clean title at closing."

I appreciate your thoroughness, though I want to clarify a few things.

Then you actually dive into there knowledge of the area investing etc.Quite thorough but clearly filters agents.