Nothing is truly "passive" and a big misconception with new folks wanting to enter the real estate arena.For example, just bought a 6 unit using leverage and trying to secure a loan was a disaster of a process.I can only imagine what others have to go through on every time they purchase a property using leverage.But then again, I'm bias to the "cash only" approach.The constantly changing conditions, terms, keeping tight bookkeeping records and tax returns in order and regularly manipulating the BS credit score algorithm.Placing good tenants is more a skill then hope.It took me 10+ years to fully wrap my head around using leverage the right way and being able to "manipulate" the system to get better rates with a quicker turn around.Keep being great thanks for your reading and replying to my comments 🙏

Take a look at the overall picture, i.e. credit score, debts etc.. to make a decision.

We require a minimum credit score of 620 (averaged between occupants) to qualify.

This information can be overwhelming, but I recommend looking for the following items:Credit Score: Depending on your criteria, you may establish a minimum credit score for your tenants.

YUP minimum requirements.. although you would be surprised how many folks cannot get a bond because they lack credit score.. this will weed out the really poor players and give state a vehicle to regualted those that violate the laws without all the grey area currently.

Going to depend much more on more details / your personal situation - all things equal you will probably get better rate/terms on conventional if you qualify for bothThanks I have a good credit score just trying to get rid of that PMI 

But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.

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

I'd recommend keeping them separate for that reason. 70% LTV should be doable as long as you qualify (LTV can be affected by your FICO scores).

I work with properties all over Australia, mostly around Perth and Melb but to a lesser extent Sydney/Brisbane or any regional areas as well.