In our experience, the higher calibre tenants prefer a longer term (they want to settle down and find a Home); though when the housing market heated up we also had a lot of great applicants who wanted the flexibility to leave if they were able to BUY their own home (a bit more work for you, but not awful if the tenants are consistently good).Congrats on the purchase!

If we decide on "yes," we would definitely require the additional adult occupant to submit an application.

I was wondering how to automate the application process for potential tenets.

Hi my name is Han and I was an angel investor and long-time user of DIY Landlord online rental property management software called Avail, which was later acquired by Realtor.com.I have seen how Avail improved and introduced useful features overtime, to help Landlords find tenants quickly (example, one can advertize once on Avail and your AD will be posted to several other rental sites, free of charge), receive/process rental applications online, screen prospective tenants, easily draft state-compliant rental leases (and allow Landlords to clone previous leases when drafting a new lease), easily setup/manage rental payments (including auto rent payment reminders to tenants), and record/track property maintenance tickets and costs.If you are DIY Landlord like myself, you can try Avail using my referral link: https://lnkd.in/gfZGuVxz and get $50 in account credits when you sign up.

Short term rental permits will be for 2 year length and renewal applications must be submitted before the 2 year term is up.

We had 1 application declined out of many.

I do find the blockchain technology extremely useful for some applications and has benefits but "investing" in virtual real estate is more like gambling if you ask me.

They listed the property on Zillow and within 24 hours they had MULTIPLE qualified applicants reaching out.

Real life application is completely different. 

Here is a link that you can use to verify that your CPA is licensed within the state of Texashttps://www.tsbpa.texas.gov/ge...While @Michael Plaks is not located in Austin - He is located within Texas which is a huge plus as he can help maneuver through the complex Texas LLC Tax Laws(if it is applicable to you).