In Milwaukee we have a print company that specializes on all forms landlords need, from applications, to 5 day notice, lead paint disclosures and pet agreements and about 100 more. 

@Justin Jaeger,Speaking as a single, former professional person with no children, a property like that might be good for someone who works days and doesn't care about the school across the street, but doesn't have the family / pet issues the other posters have mentioned.

I agree with Steve, and also another landlord said they will always rent to pet owners...they are generally more responsible and you plan to replace flooring and paint at move out but generally they do not move out when they find a place that accepts animals...so you get kids or animals...?

Use that data to build your rent roll and your renovation plan.Now that you have your target rental income, build in line items for ancillary income such as late fees, application fees, pet fees, utility reimbursements, etc.  

Just learned that she has a pet in the house.

My insurance covers up to $5,000 in pet damage and $10,000 for bed bugs.

Here's what Denver is doing these days, from what I can tell in craigslist . . . .I am seeing fairly consistently either a non-refundable pet deposit (in addition to the full security deposit) of amount between $200 - 400, or pet rent of $25 - 50/mo/pet OR I'm seeing they want both.  

. - Miscellaneous Fees | What do they charge for pets?

We opted to lay laminate wood floors on top of them instead of forking out the cost for refinishing them, especially since we would likely have turnover in the property each year with pets and everything. 

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.