So we signed the documents and paid the closing costs.

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

Now when your agent actually does the release then they send it to the listing agent and its is the listing agents responsibility to forward that doc to the sellers we do this all the time via docu sign or hello sign or whatever on line document system the local MLS uses.. somehow you seem to have this backwards..

We take ID's for all guests (in a website called Chekin) so would have documentation the booking guest is above 21.

Implement documented repeatable processes to reduce errors and improve service levels.By being efficient, and cutting some of your costs you can hire better talent with the leftover cash. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Very excited to see this news   We have an app now in beta that will soft launch by end of year!

Quote from @Chris Seveney: @Charlene Kingsnorth have you had an sec attorney also review what you are doing as if you're are having multiple people as part of a loan participating in it depending on the state this could get you in hot water - so be careful  good point Chris some state allow fractionalized deed of Trust mortgages other do not or require PPM like documents prior to offering them..

That is good news. 

Document all your efforts, including repair invoices and communications, to show you’re acting in good faith as a landlord.