I'm fine with texting for routine communication reminders like be sure to drip the faucets on cold night, can we get a pet (yes, but there's a fee), etc.My phone goes into "Do Not Disturb" mode between 7 PM and 7 AM. 

You can add addendum's to a lease to cover Crime Free/ Drug Free, Lead, Pets, and other items specific to your property along with the Security Deposit/ Holding Fee agreement.Same info for rental applications.. 

@Roy Nash my property manager recently has focused on Facebook since it allows him to get a more comprehensive view of the applicant (e.g. they say they don’t have pets but their profile pictures are all with their cats).

Think of 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.

This is my gut instinct.3) Do you allow pets?

On-site Maintenance.Unit breakdown:16 - 1 bed/ 1 bath --- $600 month a year lease, $650 month w/6 month lease and $700 month72 - 2 bed / 2 bath --- $700 month a year lease, $750 month w/6 month lease and $800 month16 - 3 bed / 2 bath --- $800 month a year lease, $850 month w/6 month lease and $900 monthDeposit same as lease and Pets have $500 deposit for 1st and $250 for 2nd with 2 limit max and 30lb maxNumbers breakdown that are provided (assuming not actual number) Acquisition Costs Purchase Price, Points and Closing Costs $8,944,500Investment - Cash $1,824,500First Loan $7,120,000 Investment Information Purchase Price $8,900,000Price per Unit $85,577Income per Unit $8,618Expenses per Unit ($2,229) Income, Expenses & Cash Flow Gross Scheduled Income $896,255Total Vacancy and Credits ($8,736)Operating Expenses ($231,861)Net Operating Income $655,658Debt Service ($529,074)Cash Flow Before Taxes $126,584 Financial Indicators Cash on Cash Return Before Taxes 6.94%Debt Coverage Ratio 1.24Capitalization Rate 7.37%Gross Rent Multiplier 9.93Operating Expense Ratio 26.12% ANNUALIZED INCOME Description                                               Actual               Market Gross Potential Rent                              $873,600         $873,600 Less: Vacancy                                         ($8,736)              $0Misc.

Make a note of units with pets. 

Think of 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.

The 2nd side appeared to have a "hoarder" with very severe pet smell .

I do not allow pets or for them to have guests stay over as I do not know them and it can be uncomfortable.This method is definitely doable if you manage it properly and don't mind having others living in the same house.