They’re now asking if the pet deposit can be refunded or credited toward their January rent to help them during the holidays.The tenant was apologetic about making this request and acknowledged it might not be typical.

Any tips on managing joint ownership or deciding to hold or sell would be greatly appreciated. 

No Bank, Credit Union or Portfolio lender wants to foreclose on any loan if there is a way not to.

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

I wasn’t late on one credit card payment.

Charges them all for parking passes (on the lots I own), charges for pets, charges to empty the coin op laundry, charges for credit checks etc.  

US credit (some lenders may require 1 or 2 credit scores to qualify you).

Quote from @Divya Sosa: Hello,I had a unit up for rental (a townhome) and received an application from Zillow which showed that she has no criminal history and credit score was good as well.

All of those people also get credit/background checks. 

Get knowledge, follow experienced people, and leverage wisely.My Take:If you have two houses, excellent credit, and motivation to build wealth, you can learn to manage your money responsibly.Use HELOC, credit cards, and business credit funding to leverage your cash and buy properties faster.