And I think Arizona made it illegal last year.

Add a "Long Term Stay Policy", so a long-term guest would need to cancel a month ahead.  

If you do go the checkbook control route, make sure you get all the necessary information and have a good understanding of the responsibilities that come along with it, so as not to cause problems in the long run. 

@Milian Bonillo Sorry it took so long to reply but I appreciate that and I'm gone check it out

The reason I went with them instead, is Ameircan offers a 80% LTV 30 year long term whereas Century at the time only did 75%LTV. 

Long story short I ended up selling this one and broke pretty much even a little over a year later.

Often times the individual has long since recovered from what caused the derogatory in the first place--i.e. job loss, divorce etc.

Rockstar hard money lender - Ryan Blake at Long Horn Investments

So maybe you have some from last year.

The flipside is that I expect the expensive markets like Beaufort will continue to appreciate strongly in the long term.