Software: Stessa for accounting, Deal Check for quick and dirty analysis of potential purchasesMarket positioning: Pet-friendly (fenced-yard, accept dogs and cats), well-designed homes, off-street parking, suburban, full cable TV package (not streaming only)Pricing: Targeting upper-middle market (not budget-conscious guests)So far, so good (since 2020)

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Property Llama has a software that looks at how your current portfolio is preforming.  

I simply asked but how many qualify for a house around the median price point(this was for Raleigh, NC), he responded oh maybe 10-15% of the new applicants.

If you hired an agent or a broker to work with you, you'd be covered - but regulations & laws vary from place to place.Screening is best done by establishing a set of guidelines to qualify applicant tenants, then sticking to those rules to avoid legal issues (and for your own sanity).

I've also asked for the current tenant's original application.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

If so, that would remove one major and valid objection to letting unsupervised strangers into houses.In my own business, an applicant can apply for an apartment before touring it.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Use a promissory note drafted by an attorney to outline loan terms, including an interest rate that aligns with IRS Applicable Federal Rates to avoid gift tax issues.