But I draw the line when there is risk of damage to the property, annoyance to the neighbors, health concerns, pests, etc.

I got lucky that the tenant wanted a house in my neighborhood to keep kids close to their schoolsHouse was listed for 1750, they offered 2250 but I declined , so they offered $3k, ended up renting the house for $3250 ($250 pet rent) per month, for 3 month, open to extension if needed.I met the tenant and did the background check on them, I felt comfortable renting to them THD takes time with approving the property, but they were quick to approve the lease, and they sent me the checks the next day after lease signingMy house is not furnished, and they were ok with that , they actually work with a company that provides furniture for the tenant, and they coordinate the delivery and setup of furniture on the lease start dateOverall I like the experience working with them , but hey today is day #1 (out of a possible 3 months), so I will update this post if anything wrong happens or if I notice any red flags

Cosmetic repairs that don’t pose health or safety concerns are typically optional.Then be very transparent and communicate thoroughly to the tenant, as to provide a professional explanation for your decision forward. 

Whether or not you allow pets, guests are bringing them. 

In my experience, over half of all renters have a pet.

We have late fees, pet fees (though less these days with the whole service animal abuse), parking fees in some cases, storage unit feeds, coin laundry revenue etc... it can add up.Good luck.

What is your process for screening pets?

We review three months worth of bank statements (with scrubbed account numbers) to verify income and their financial health as well. 

I allow pets with a pet fee and have a cleaning fee, tenants change out every 3-6 months on my MTR usually. 

@Robert Rixer This one is directly across the street from my house and I could use one of the units to have my mom close by (health issues).