Given you have three, if I were you, I’d have a professional give my financials a once over to be sure there’s nothing I’m missing or simply unaware of.I’m sure you can get tons more feedback on this, but deduct, deduct, deduct...Knowing and taking advantage of deductions can save so much of your money from Uncle Sam.

I'm wondering if anyone uses this exclusively or if you have a policy for standard vs emergency issues?

read your mortgage is pretty much standard boiler plate.. in most.. and if your buying notes again make sure its there. 

@Jeremy Taylor I would recommend starting out by setting the standards for how you will be a lender.

1 - DSCR just shows the lender the property can sustain itself and the rents cover the debt2 - Terms vary but will typically be 5-10 year ARM on commercial loans3 - 20-30% down is standard depending on the deal (SFH vs MFR) etc.

Notify each tenant in writing that you intend to increase the rent and require them to apply and meet your standards.

I was told here and there that renting out a SFH that has keyed entry bedroom door knobs (standard single cylinder and turn-button on the other side) is a fire hazard and against some kind of code or, if not, makes you liable for fire hazard dangers. 

There can be a ton of paperwork, and some banks can get caught up in bureaucracy, but environmental inspections, appraisals, any other "Phase 1's," etc. are all standard.1 - I'd say 60-90 days is a generous closing period for a property & buyer both with good records and have their ducks in a row.2 - Of course. 

This is standard for commercial sales where you are assigning a value to a lease.

Stick with a set rental criteria and if he doesn't meet your standards, give him a 30 day notice to vacate (or whatever is required by your state).