They balked when I asked them for proof of their portfolio's past performance - which led me to believe they were aiming too high. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Or do I bite the bullet and invest in furnishing the property for a MTR or STR?

You could always use those to prove they were smoking up; with that proof you can either move to evict or simply hold security and at least have some sort of proof.If you install a marijuana smoke detector I wouldn't even tell them what it is (aside from a smoke detector) as they might try and disable it.

They will want copies of all the leases of the properties you own and proof they are paying.  

There are programs out there for owner-occupied properties that don't require proof of income, but expect to need a hefty down payment (30%+) and reserves. 

Eventually I decided to bite the bullet.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).