The bullet in the response that is standing out to me is:"(7) The accessory dwelling shall not be a short-term residential rental, as defined by City Code section 3-2-152(a)(2), for a period exceeding 120 days per calendar year."

Your policy should be that the applicants have an SSN or ITIN, period.

Comes with the territory of being a litigation/trial attorney for almost 40 years.

It can take up to three days to serve, then you can file in court after the 3-day period. 

You could read 100 books and still need to learn more because certain things must be learned through trial and error.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

Maybe we're in that period you're referring to when rental rates have not caught up to the increase in insurance premiums and taxes. 

I agree, its easy to say oh I want cash flow, but ultimately, most of the gains are made with appreciation and principal paydown over long periods of time. 

You could read 100 books and still need to learn more because certain things must be learned through trial and error.

I've had some investments perform better than others but section 8 rentals were the one that were most challenging to sustainably operate and my worst performers over an extended period of time.