They can implement or may already have rules like no rental signs, HOA needs to approve any application (but they might only meet quarterly), no pets for tenants, owner must live in the house for 1-2 years before renting, no leases less than a year, limit on # of rentals, and more.   

You can’t because the tenant would have to say…I only want to live in this 2 square miles, I need 3 bedrooms, I want a 2+ car garage, I need a yard for my big dog, I want laundry in the unit, it must be on the ground floor, nobody above, between 1200 and 2,000sf.

Properly executed, an investment in these types of property can garner substantial passive losses, often equal to the amount of capital invested (or more) even in years where the benefit begins to sunset.A few words of caution: - Be careful not to let the "tax tail" wag the dog.

First the approved tenant moves in: perfect applicant, single mom with one kid, no pets... soon her adult kids move in with their kids and then her ex moves in with his kids and their kid's kids and their pitbulls and mastiffs... 

I think your best bet would be to go through your rolodex and ask them what they are looking for (asset type, specific returns, timeline, etc) and become a bird dog/wholesaler where you would sell the deals you find.

Seems like cancer patients and transplant patients want MTR...may not want to stay in hotels...may want someplace pet and family friendly and want a host with a heart that can shorten their stay---Say YEAH....or extend it, without paying big penalties.....and these are people often networking with other patients and families who may be your clients too. 

They have been consistently late on payments (we’ve emailed them twice about it), they broke the lease regarding having extra dogs/cats and started a boarding business in our home which we informed them was not allowed as soon as we found out, as well as lacking in communication with them regarding things we needed to fix around the home.This is in California.We’ve just wanted to see what our next steps could/should be.

He found out the carpet smelled so badly with the dog pee and wood floor was also damaged by the dogs after they moved out. 

Some like buying a tax lien can be done for as little as $500 (although easier said then done).You can wholesale properties of get a fee for being a bird dog and referring deals to other investors.

I only own nicer rentals with fenced back yards and rent to families with dogs.