Lucas, I respect your willingness to step up and take on property management, but I want to strongly caution you (and your friend) about the risks of managing a multifamily property without experience, certifications, or financial investment in the deal.

This gives you a clear, tamper-proof view of their real earnings over the past 12 months, showing recurring vs. non-recurring deposits, average balances, and overall financial stability.

Those are simple financial questions.

Prioritize your financial stability.

Hey @Erich Clark,Congrats on the first property and good working planning ahead to future short term rentals.

You could also explore HELOCs or cash-out refinances in the future when your income stabilizes.

Checking a box and running a basic credit score won’t protect you in a room-rental situation where tenant behavior matters just as much as financial stability.✔ ID Verification – Confirms each applicant’s identity to prevent fraud.✔ Judgments & Liens Search – Since these no longer show up on credit reports, a separate check helps uncover past unpaid debts or landlord disputes.✔ Eviction & Rental History – One bad roommate can disrupt the entire house.

If you ever need help running numbers, I built a financial model (example on my website) that I help investors all the time look at deals so just PM if you come across anything.

With time hopefully the numbers will be even more in your favor with appreciation of the property and you will have cash flow to continue to invest, also it is building equity in your portfolio that you may want to tap for opportunities in the future.

@Alex Lee203k is an amazing tool as long as you don't overextend yourself financially.