You don't want them to just be financially qualified but you failed to investigate how they treated their past two apartments. 

Spruce the place up and find a new, qualified renter at market rate.Don't forget to update your lease agreement.

I have not thought of using DTI instead of 3x the monthly rental amount in order to qualify an applicants income, but you made a great point regarding the priority that tenants might give a car payment.

With some additions, this would qualify for the OMG category, but I think they didn't have that category back then when it was on the market.

@Luisa Morejon Since you've lived in your home for 15 years, you qualify for a capital gains tax exclusion of up to $500K (married), allowing you to keep the proceeds tax-free.

The rules are more complicated than your one sentence, and even Tom did not have the time to explain all of them on his podcast. 500 hours is one way to qualify for material  participation, and there are other ways.

If you don’t have a large down payment saved up, don’t worry—there are plenty of options available . . .”A trusted lender will go over the various loan types with you, any down payment requirements on those, and down payment assistance programs you may qualify for.

Do DSCR loans qualify if purchasing through 1031 w/debt-carry-forward requirements?

Renting at FMV ensures the property qualifies as an investment while preserving its long-term utility for your portfolio.This post does not create a CPA-Client relationship.

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.