A loan-to-value (LTV) ratio around 70-80% with a straightforward approval process would be appealing.

It took maybe a week or so for us to get our approval for our two cabins

I am curious about ifit's hard to get approved, how long it takes to find a decent tenant, your experience with inspections, etc.

Red tape = dealing with the government, getting the house inspected and approved, learning the procedures of Section 8 so you do everything the right way.

I sometimes charge a pet fee upon approval, followed by a monthly pet fee.

. - Make sure you get a security deposit and perhaps do a surprise inspection of their current home.S8 requires an inspection (mostly health & safety) before approving a lease and then annually thereafter. - Not something most landlords taking care of their properties have to worry about.There are limits to clauses they allow in your lease.

I’m having troubles getting approved for the loan. 

Got them approved for the rehab via our direct HM partner, but the refi after the work is completed into DSCR is the issue.

Would you approve applicants without a verified rental history? 

If insurance approves the claim, I figure having the tenants cover the deductible would be fair.