We have had to reduce nightly rates 30% just to get bookings in my area which is Port Saint Lucie, Fl. 

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

@Mordechai ChaimovitzGreat points made above along with what @Daniel C. said referencing @Tom Shallcross's post on another thread.The context and variables for each individual investor will vary but many people are comfortable with getting a 2-4 unit that will reduce their out of pocket expense compared to their previous rent with the intent to do rehab and raise rents over time.

Ask me off public to explain.But, the point is, you are going to pay based on the purchase price.

Does anyone have a template or method that they use in order to screen tenants effectively in order to reduce the risk of non payment and damage to the property? 

More and more investors are looking to assume low-interest loans rather than deal with reduced cashflow thanks to today's interest rates. 

Purchase price: $715,000 Cash invested: $297,000 Current Price: $830,000 (originally $950,000 on 4/13/2024, reduced by $120,000 in 6 months).

In many states, this is public information.

Having a group of friends living in an apartment complex creates a sense of community and reduces turnover.

Send a notice: The landlord can post a notice in a visible place and send a notice by mail to the tenant's last known addressRemove belongings: The landlord can remove the tenant's belongings and store themRecover costs: The landlord can recover the costs of moving and storage from the tenantSell belongings: If the tenant doesn't claim their belongings, the landlord can sell them at a public sale(End)Please only communicate with the tenants - all of them - in written form only so it can be used in any collection/court engagement.