Since it is a relatively short term stay (3 months) compared to long term tenants.Do you still perform a background check?

Since it is a relatively short term stay (3 months) compared to long term tenants.Do you still perform a background check?

being a high volume transaction company we do see this alot.. more so in the mid west were values and buyers tend to be a little tougher to get to the finish line especially first time buyers   compared to high priced markets .Nothing more frustrating for a buyer though to be hooked up with the lender that low balls you but cant perform and your out thousands. 

Then when bad tenants perform badly the investor is shocked and moves to another PM firm and starts the cycle over.

They still live in the 4th unit to this day.My target market is Las Vegas, I’m there 3-8 times a year, and feel like with all the Sports Teams, fresh Hotel construction, and a solid University, it’ll be a good rental market for me to learn.

Is there anywhere I can collect historical performance data on short term vacation rentals in a specific area?

Im interested in buying performing and non performing notes.

Im assuming a lender will look at the portfolio on how it performs vs your DTI ratio when applying for the loan.   

In retrospect I should have given several of the candidates the same assignment(such as run these comps, make these calls, create this logo etc) to see who would perform the best & then compared the results.  

The first remediation company went to assess the damage and told us an overwhelming amount of work that they will have to do in order to repair the water damage, including demo the kitchen cabinets from the walls, potentially destroying the counter top, opening up downstairs bedroom drywall, ceiling and some carpeting, and that they will not be able to put anything back due to liability concerns (the fact that they are not licensed contractors to perform such types of work).