The rate is capped at 25%, not including any applicable state recapture tax.

Our one applicant thus far did not have good results in the background check.What’s the normal amount of interest and number of applicants for a rental?

Read this book... https://www.biggerpockets.com/store/house-hacking-ultimate

Just be prepared to go through a lot of applications, because finding quality tenants may be a challenge.

"I learned the value of real estate from working in a small grocery store for 3 hours with 10 cents an hour pay." 

Something like Yardi and Onesite.Rentlinx is another way to list via syndication to a bunch of sites, but costs $69 for one month.Turbotenant charges the applicant.

Anyways, for preapprovals, most lenders want you to fill out an application and do a hard pull credit check.

We try to avoid ceramic tile when possible due to the time it takes, kitchen backsplash is the only exception.You can buy okay LVP at big box stores, but I usually prefer materials from a flooring store, better value.

And, of course, they had a good handle one what type of rehab they were in store for when they looked at a house. 

That's a good questionPersonally I just keep storing capital while looking for an investment.