Hey @Sam Choi I have a rental in Puyallup which I purchased many years ago, before I know anything about cap rates, or ROI, or ARV, or tenant screenings, or property management or even that one should get inspections before buying.

I first however verify income requirements and conduct a throughal phone screening.

I’m thinking usual screening process and also have them meet the currents tenants before hand.

Phone is fine.

If you want to be into rentals know how to raise money legally and form Partnerships so you can invest in apartment complexes.Once you start buying a minimum of a 32 unit apartment complexes you'll be able to hire a Property Management Company to take care of the daily operations including the maintenance and tenant screening and still make a positive cash flow. 

I can tell from your question you might be a little confused, I am sorry this post made it more confusing. let me know if you want to talk, I can explain it much better on the phone. 

They may also not allow you to screen their rental applicants. 

The post, seen on Facebook and in emails and texts, asks for a fee of around $10 to gain access to a potential homebuyer’s email and phone number. 

My name is Brian, and I'm teaming up with my wife Elizabeth to achieve financial freedom using real estate as our vessel.Just over a month ago my wife's phone was submerged in liquid by one of our small children. 

If long term, I'd treat it just like any other rental and do a thorough screening.