He also sent his rental application with no references what so ever saying he owns his company and providing few friends as references when I told him he didnt provide any references.What do you guys think?

Bad tenants: eviction is a long dragged out court process.Credit check all applicants, don't just take everyone just because they give you the entire year's rents in advance.

But maybe it's worth it to ask more questions and find out for sure.If you want to pursue it...make them start filling out paperwork...background check (like Matt suggested), rental application, current and previous landlord info, employment info, current monthly income, last 2 pay stubs.

I've made a career for myself in the Software Engineering world as a Site Reliability Engineer - I manage and automate infrastructure that hosts software and create automated systems and processes for software delivery in a fast, efficient and most importantly secure fashion!

I've made a career for myself in the Software Engineering world as a Site Reliability Engineer - I manage and automate infrastructure that hosts software and create automated systems and processes for software delivery in a fast, efficient and most importantly secure fashion!

Even then, your application is subject to tight caps on the number of permits available by neighborhood, higher occupancy taxes, etc.

Do they have some kind of algorithm or software that spits out a YES or NO answer? 

My current lender only offers primary residence HELOCs, but is currently not accepting applications (assuming they will be by next summer). 

We screen through an online service with a basic application (including pay stubs, etc.), along with a report that covers criminal, credit, and eviction history.

Further you should have checked the lease and rental application which would include a photo ID.