I’ve submitted one application with the lender we just used to close our primary residence in TN because we have a good relationship (he’s now with Guaranteed Rate) but I’ve read there’s benefit to making some local lender relationships since the future of my investment will probably be in MN.

For me as a neighbor to the north I’m seeing multiple applicants on every rental I own and my colleagues.

I said it was a TEXTBOOK advise.. meaning.. not very applicable in the grunt of things. 

If they show me proof of their approved application, I'll wait 3-6 months until a unit opens and they can move. if they don't provide evidence, I set a hard deadline of 90 days and just force them out. 

Challenge is, you with the new STR laws in Placer Co, there are no guarantees there will be a permit for you once you buy as they have a cap now and they are reviewing new applications starting this month, up til they reach the cap. 

Some of the big ones I've heard are things like having a great tenant portal for handling maintenance requests and rental applications, quick response times when dealing with tenant follow up, showing face at the property or at least routine drive by checks and a reliable maintenance team to handle property repair and upkeep.

Also with paying application fees in advance it’s a lot easier for me to trust a bank than a person.

Once you identify what you can build, you can work out a proforma to capture soft cost, hard cost, fees (building, loan, applications -- the list is long).

These units have been vacant now for 2 months and I'm out of ideas on how to market the units to people who will move forward.All four units are 1 bed/1 bath units and I have the following criteria:Fees:$300 security deposit, $50 application fee per adult (18Y+).Criteria as follows:no evictions in the last three (3) years; felonies on a case by case; no sexual offenses; income 2.5 times the rent.Any thoughts or tips would be very helpful!

Lots of contacts, 20+ showings, 3 approved applications and yet still not rented.