While we here on BiggerPockets certainly have financial goals in mind, local populations all over the world have an opposite and opposing one. 

But when you got $40k, $75k, $125k, you're not gonna become a financially free anything via buying index fund's and ETF's, your just not.

Prioritize your financial stability.

Lots of normal, blue collar folks are getting financial freedom from STR and yet the committee is tone deaf to their stories.

IT DOES NOT WORK at improving your financial balance at all.

You don't want them to just be financially qualified but you failed to investigate how they treated their past two apartments. 

Financial terms.  

keep it to 1 page is my best advice and simple. have financial returns broken out beforehand 

It wasn't fun living an hour and a half from work and play, but absolutely worth it.If one is starting with relatively low living expenses, cash flow can be extremely powerful towards reaching financial freedom.

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.