Here's a detailed guide on how to screen applicants: Application Screening Guide 

When I have some free time, I'll research other options that won't cost a fortune for the small guy.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).

And hopefullt you won't need a traffic light, which costs in excess of $100,000, though you will be required to do a traffic study. 

I encourage you to consult with a qualified attorney to ensure this agreement complies with applicable laws in your area.

Free option available too.    

As Bill mentioned, the best way to decide would be to get a free cost/benefit analysis to help you determine if you would benefit.

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

Feel free to reach out with any questions. 

Feel free to reach out.