Then they didn't pay them and the  bad credit goes to someone else! 

I require a high credit score 680+ and two prior landlord references.

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

Alternatively you can do the LOC (line of credit) on it so you can retain the home but are definitely subject to today's current rate environment.

A proper vetting process - background, employment, credit, and reference checks - will weed out 99% of problem tenants. 

The banks/credit unions said I needed 6 to 12 months of ownership to get refied. 

This includes credit, criminal, and rental history checks for all parties.

I looked back at my tax returns when I was doing the conversions from my traditional IRA to my Roth IRA and realized I had converted up to the limit of my standard deduction allowing that amount to be tax free, but the excess above that that I converted each year was at the lowest tax bracket, so while I did convert some money tax free each of those years I DID IN FACT pay more than a few cents in taxes on the amount above the deduction.  

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.