Hello all, I am working on my concept for my first development project for an apartment complex on the outskirts of Phoenix,AZ, I have a background in fix and flips I was also a licensed realtor few years back.

I did a tenant background check and they had no evictions, nothing too concerning in their background and their salaries were more than sufficient to cover the rent.

In that case the differences between evicting a tenant in a furnished STR with all utilities paid and far greater more variable/seasonable income streams is (IMHO) a far worse situation than a traditional LTR (where you’re at least mitigating some risk via expectations of standard background, credit, and past landlord, etc checks. 

I have had houses open for 4 months and just didn't take enough time to do the background check right. 

A little back ground on my self, I’ve flipped one property last year in November.

The attorney had no opinion since it was technically granted by the court, just not served by a Sheriff yet as there was a backlog.

For background I'm in Virginia and I've been told no four times this week for HELOC and/or Home equity loan on my paid in full single family investment property.

Received a qualified applicant, background, credit, rental history all came back good.

My background: I am in tech, did a few startups and have saved up decent amount of cash reserves.

Technically, they can do a charge back on an ACH bank payment too.