This family is currently searching for a home, and our agent, who also represents them, has generously offered to waive any commission for connecting us.After outlining our standard tenant qualifications—which encompass application requirements, income verification, rental history, credit score, background checks, a non-smoker policy, occupancy guidelines, pet policy, application fees, and move-in costs—our agent indicated that the extensive discussions and adherence to these requirements "equals a full commission of one month's rent."

We advertised as no pets allowed and that lost us a lot of lookers.

No mortgage, no pets, no tenants.....and I'm enjoying the hell out of it,

Non refundable pet deposit of $250/pet with monthly pet fee of $20/pet required.

Make sure you have 1 person units and allow pets.

We asked one tenant to leave (5 pets--we told them they could stay if they found homes for the pets, as it is a no pet building), and we had it rented by the time they moved out. 

One with 90+ members is great because it affords the HOA a lot of economies of scale with vendors thereby keeping HOA fees lower.Review the HOA financials and make sure they have a substantial reserve that would cover a hail storm deductible and/or other storm damage.Read the Bylaws to make sure they're rentable and check the pet limitations.Check the common grounds for any big ticket items that may need replaced soon.

One thing I did notice is that almost everywhere seems to allow pets so that may be something to consider if you haven't yet.

Where you can run into issues is pet urine.  

I see the public markets as another asset class, or actually series of asset classes, to investigate for investing.My other pet peeve is regarding taxation of rental sales.