The only other implication I can think of is: (as always) just be truthful on your Taxes and Loan Applications.

Besides being able to check the box and receive your license after you take the test, the class will contain loads of applicable knowledge and skills that you can carry with you and build upon your entire career.These are just my two cents gained from listening to podcasts and reading books and blogs.

Any person who engages in the business of a real estate broker or real estate salesperson without obtaining a license as provided in this chapter shall be fined not more than one thousand dollars or imprisoned not more than six months or both, and shall be ineligible to obtain a license for one year from the date of conviction of such offense, except that the commission, in its discretion, may grant a license to such person within such one-year period upon application and after a hearing on such application.If you get a license or if you have a licensed agent or broker in your company, I think that is the way to go. 

Because the units are sub 30k, I am not pressured to take the first applicant with a heart beat.My units are well maintained units with nice paint colors, appliances, washers and dryers (used but nice).I do treat them well and give them the tools they need to be responsible.  

., inoublish our lease, application and resident selection xristeria right in our website.

A conventional 15 or 30 year mortgage would not be applicable at this point I would assume since the property is already purchased.

Tell them, due to ALL OF THE INTEREST you've had, you are accepting applications.

So far I do find rough edges in TenantCloud system though as their screening tools are not good and due to time lag to post application fees, sometimes a prospect can't move to next step until their fee is marked in system as cleared.

I figured they could pay my mortgage until spring, when I understand sales conditions are better.However, now I'm thinking about renting it out on a more permanent basis, and I want to make a decision on what to do before they move out, and also if that decision is the rent it out, I want to have a plan in place for a more structured application and contract process that better protects me.I have worked up a list of inputs that I can share and hopefully have critiqued, but I guess I'll stop there for now and see if other people would recommend doing this, and if so, what preconditions do more experienced folks think should be met before you would make a decision to rent the house out?

I have interested applicants for my June opening.