Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

.: I have an applicant who's going through a rental screening process A.T.M.

But doesn't have any property advertising, prospective tenant applications/screening, or any of that side of the business. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

This $100,000 would be taxed at the applicable capital gains tax rate (0%–20% federally, depending on income) and subject to depreciation recapture at a maximum rate of 25%.

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

Once a complete loss mitigation application is received, the servicer must review that application before starting the foreclosure process.""

You also don't need to do a traditional long term strategy, is there a draw the  area that playing host to a traveling nurse or other professional/student would be interested? 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).