So there are some loans that won't care about a major credit event as long as someone has a large enough down payment (usually 20%).I hope some of this information is helpful.  

Its in the events section.

In any event, three-month timeline is reasonable.

Not only would that show the tenant you are serious about getting to the bottom of this issue, but it could also help prevent (or help you in the event of having to call the police) further thefts.  

You can find upcoming local meetups and events here https://www.biggerpockets.com/forums/521-events-and-happenings

If your ever in the Kalamazoo area and would like to network there are several events here.

Now that's just the CoC, your actual IRR is higher but those exit events are usually 5-7Y out.

We have their name address, credit card on file and in the event there is anything wrong with the property, we know exactly who the last person that was there and we can go right back to them.  

I understand the allure of "business on a handshake" but you should have something in writing outlining your agreement in the event of disagreements or you end up in litigation. 

Do you ever go to any local REI events?