So, we bought the property 2 years ago, based on the valuation of the property considering income from 6 units.The sale deeds (from 2018- 3 sales) I could get from the City and the property tax statements (2023,2024) show that the property is zoned as 411 (apartments).

There are still some docs required (ID, bank statements, copies of leases, copy of insurance, etc.), but it's WAY less document intensive than a conventional loan. 

@Palak Patel copied from our website, so use what's useful for you:_________________________________________________________________________Below is more information about what our Applications Department does to screen applicants and find the best tenants possible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of another applicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then taking several days to submit.

You'll want to gather the last 2 or three months of COMPLETE bank and brokerage statements...even if you think we don't need to see it...give them to us.

Also tell them that they are in violation of the lease as it should include a statement about other tenants having a right to peaceful enjoyment of their unit and they are in violation of that. 

My PM sends everything (Disbursement payment + monthly statements & work orders) all on the 26th of each month. 

The title company/settlement agent is responsible for more than half of the costs listed on a settlement statement. 

However, we just started STR property management and it would be very helpful/look more professional to have the ability to esign contracts, autogenerate payout statements, direct deposit payouts, ect.  

Run credit and background checks, actually call the listed referrals, and ask for bank statements.

.✔ Verify pay stubs – Cross-check them with bank statements to confirm deposits match.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.