Remember the worst tenants are usually the best con-artists.Stick to your criteria, if you have plenty of applicants raise the bar in the areas where you can in choosing the "best" fit and never lower standards to try to make a otherwise unacceptable applicant fit. 

Investing time in identifying my standards, and building tools to use them to filter our properties, has saved me a ton of time. 

USPAP- Uniform Standards of Professional Appraisal Practice- our industry standard does not require a site inspection, building interior or exterior inspection, etc.The appraiser and client set the scope of work per USPAP.

Everyone has their own, and highly personal, definition of living standards.

Set a standard for what you're looking for- Ex.

These are all very standard asset management operations that I think every investor should do. 

If you're going BRRR and not renting, then just get the standard HO policy.

Now, you can get a hard-money loan, purchase the property, do the rehab, and IMMEDIATELY turn around and refinance the HML into a conventional loan for a more standard interest rate.  

Make a criteria of minimum acceptable standards, and then never make any exceptions for someone who falls below your minimum.I hear time and again that people who are going through an eviction are doing so because they fell for a sob story or made an exception.

If you aren't trying to run a company, the standard double entry accounting method can be overkill.