Networking with other investors and seeking advice from financial advisors can provide valuable insights and help you avoid common pitfalls.Keep an eye on your financial health by maintaining an emergency fund and avoiding over-leveraging.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Currently my husband's parents own the property but need to sell due to declining health. 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

All the while remembering- there are no pit cats, only pet cats (and dogs using the backyard as a restroom is one of the reasons I think cats make better renters than dogs).

There is strong data that correlates lead exposure with health problems. 

As a guest of almost 50 STR stays, one roll of TP per bathroom is a major pet peeve of mine!

I would simply have left a welcome kit for each renter that included some shelf paper, toilet paper, and a new milky white shower curtain, plus a small bag of Purina if they have a pet.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

They talked of pets and children to be much more common, meaning damage.