(We are working on a generalized survey to collect info on our buyers/potential buyers so we can make sure we understand who our customers are while trying to dial in their preferences and patterns.)You are doing great things. 

Quote from @Makani Donaldson: From what I understand, different islands or cities have different rules, and they are getting stricter.

You don't want to start playing sides here and getting involved in these kinds of debates.

5C's of credit are a good framework to understand the fundamentals.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

A realtor who understands the numbers can help analyze the property’s projected cash flow and ROI, plus they might know local leads from probate attorneys or even “drive for dollars” efforts that can reveal off market gems.

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Did I understand you correctly?

We've never actually had a tenant use it after reading the addendum (which was our goal), and I think it helps prevent problems when they understand the myriad issues involved in its use.