I assign a point value to things that are important to me- the length of lease they want, whether they showed up on time to the appointment, reason for leaving current place, proximity to school or work, how long they have had current job, etc.  

@Andrew Shepard curious to know what kind of rates and term lengths you were offered?

The length of time the loan has been current since default is not a defining characteristic outside of any given investors desire to bid accordingly.    

Is there a way to get the bank to only look at comps to value the property rather than the price you pay for an "arms length transaction"?

On the other hand, multiple contractors can be hired for multiple job types within the home.Most (full-time) real estate agents earn a living by representing buyers and sellers, which is why they would ask you to sign a contract “exclusive representation” for a specific length of time.

If you let him use it for x amount of time (length of suit) .... can't remember what this is called off top my head though.

If this length of time is more than the life of the AC unit, you may not want to do it.

What I know to consider: interest rates (I'm trying to keep them low), "term" the length can vary, purchase price, payment amounts...what else is there that I don't know?

Make sure you understand exactly what the origination costs are, other (junk) fees, prepayment penalties, length of loan, extension fees, draws if they are funding rehab, etc.

@Paul Sandhu  yes there is definitely a trade off between the length of the rental and the revenue.  30 day minimum rentals mean you can make medium income with medium time investment, whereas Short Term Rentals are higher income with higher time investment.