Have you run credit on this applicant? 

@Craig Curelop @Mindy Jensen Are the application and addendum forms editable?

@Benjamin Manibog I submitted an application on lending tree and of course my phone started blowing up.

Have an attorney make sure you are doing everything correctly (your closing package/mortgage/application etc).3.

If not, move on.Calculate your gross potential income based on on the market rents.Subtract at least 10% (or more, depending on your area) for economic vacancy.Add other income (laundry, late fees, application fees, pet rent, RUBS, etc.)This is your total pro-forma income Calculate all expenses line by line (50% is a sanity check or a guideline but not a "rule"!)

I am interested in doing personal background screen of the client-tenants of some small commercial properties, <5000 sp ft, and I am wondering what the general consensus about it is.Is it worth my time and money to get something comparable to a rental application background screening for the client-tenants of my commercial properties?

I am certainly hoping that is the case; as mentioned above, I will certainly be more present socially through applications but I am looking for something more in substance. 

Take an application and move in fee and call it a day.

You can go to their website and submit an application any time.

Not directly applicable to your situation, but an acquaintance of mine got into a lot of trouble in a slip-and-fall incident because she tried to DIY the insurance.