Local Landlord/Tenant laws and applicable Real Estate laws concerning rental transactions and required licensing and handling of Client funds; Federal Fair Housing; Fair Credit Reporting Act; applicable EPA regulations; HUD rules for certain projects financed with HUD money and of course Title IX subsidized housing issues; OSHA rules for employees (office AND maintenance workers); Licensing and Insurance requirements required/recommended for contractors that you hire; IRS rules related to employees and income reporting for your Clients and vendors; accounting "best practices" for Client funds; business insurance and record keeping requirements for your locale and type of business entity, and probably a few others.

At the end of the day, hunt for Licensed GCs, figure out if they subcontract out the labor or not, and what their vetting process is for those subcontractors if that's applicable. 

Hi Scott, Thanks for your reply, yes we are out of state investors from Massachusetts so we work directly with our property manager who is reporting to us that there several men in this area who walk around with guns which has scared off multiple applicants.

They then have the prospect contact us for an application and start the process.

Typically, you'll have charges like: an application fee, first months rent, security deposit, and an additional fee or deposit if you allow pets. 

@Clint G.Do you think an even split can be applicable on a buy and hold too?

The origins of one year really come from three revenue case rulings where the judges issued their rulings by stating a time period that was appropriate (but as you know it would have been only strictly applicable for that case). 

They will want an appraisal, but I’m not going to bother to submit the application if they can only credit $20,000.

Folks-Hope you can help me, i have an application from a prospective tenant, the self-disclosure shows an adequate income-to-rent ratio, and the income source is from a business.

The application fee I collect doesn't cover all of it so I end up paying a little more out of pocket.