I would make sure to thoroughly verify the applicant is who they say they are and that they are actually employed where they say they work.

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

To mitigate these risks, it's crucial to thoroughly research the market, obtain detailed cost estimates, and build a buffer into your budget to cover any unexpected expenses.

You might consider a thorough reading of some of the very good books out there too - a particularly good one for the finance side is Steve Berges' Real Estate Finance for Investment Properties.

Partnerships are definitely possible and can be rewarding, but I would just make sure the relationship is outlined thoroughly and both members are contributing to the deal in some way. 

When I'm at a property myself I'm experienced enough to do a thorough visual inspection but it can sometimes be difficult for me to be there as I live out of town but I suppose perhaps the answer is that I do need to make sure I can be there in person.

The property is owned by a company that does exclusively section 8 and I have been told their vetting is very thorough.

Do a thorough research, make sure you understand how the market works and build a solid team from lenders, contractors, PM and realtor.

Hey @Chryl WilliamsI've never run into this scenario where someone is being overpaid due to tenants having multiple voucher/programs... but I would keep it as is since the city typically is pretty thorough about issuing these payments. 

Don't rent property in Washington without having a thorough understanding of the laws and ordinances of the State, County, and City jurisdictions in which your property is located, and have an attorney on speed dial.