Hey Tyler, Welcome to the community! 

Hello BiggerPockets community!

A home was on it prior but burned down last year and it’s in the middle of a residential community.

Welcome to the BiggerPockets community!

Are there any challenges or reasons why some of these tenants wont be able to pay through the software that I am not aware of?

@Thomas RoarkWelcome to the community and be ready for a huge amount of information at your finger tips.

.: I'm not aware of any requirement for this.I do provide an application because it has a lot of information necessary for tracking the individual: social security number, driver license number, previous addresses, etc.When you take over an existing renter, I recommend you figure out how to get the entire file from the former manager/landlord.

I’m eager to invest opportunistically into real estate and so I’ve been immersing myself in real estate knowledge through books, podcasts and videos, which led me to the BP community of supporters.

Quote from @Karina Busch: Hello BP community.

Often the best ones are the smaller community banks in your area, not the large coporate banks however they'll have options as well but its normally relationship based where you'll come in to the bank to meet them and they'll be looking over your financials, credit, investment experience, etc. however once you're in with one of them, it becomes much much easier to borrow with them in the future...