This could lead to friction during the application process or deter some potential tenants.Increased Administrative Work: Requiring multiple applications per household increases your workload, as you'll need to process more information, run additional background checks, and review more documents.

How does this work?"

If it works as a traditional rental, everything else is gravy on top.

I’ve worked with a lot of first-time buyers, and common concerns like HOA restrictions or property management costs often come up.

However, as a young adult it is great life experience, so if he can go for cheap, why not? 

All security deposits are held in the operating account but our accounting system keeps careful track of security deposits and they show up as a liability on our balance sheet.I've not heard of management software designed to function in a specific state, so presume any would work there. 

Until you are an expert, you need to work with experts in the market. 

Just kidding about the bat, but that might work. ;-)

When we look back to July of 2023, the market wasn't nearly as balanced as it is this year. 

@Charlie Brown, I'm not super familiar with your market specifically but I think this strategy works anywhere:- Find a boutique, niche, ideally aging broker/brokerage in your market, and start adding value.