While it's great to watch margins and not to overspend where unnecessary, you will find it much more difficult to survive an audit if you commingle all your personal funds with your rental property expenses.

I figured we could do alright with a battle hardened staff and without all of the unnecessary expenses and salaries built up during the boom.Things were running fairy smoothly until the last few months, when my office manager apparently became burnt out and decided not to follow up with clients without letting me know this of course.

at the top of the forum for landlord questions, you will find a guide to tenant screening.

The negligence includes:improperly screening 2 tenants who paid late 3+ months before being we agreed they could break the lease early, and then the tenants last payment bouncedallowing a large dog with those tenants (I'd said no pets)repairing damage for those tenants may reach $5000improperly managing the house utilities (deadbeat tenants left me with a $1000 water bill)allowed a tree to grow beside the house which cost $6000 in plumbing repairs & tree removallost rent while I repair the propertyI'm actually getting out of the rental property business, partially due to this.Thanks for any suggestions!

You've thoroughly screened the tenant, you are comfortable about who you have living in your rental but you still have little things that you worry about.

Screen out for the bad tenants and that will help your property perform and cash flow.

Does anyone see issues with this assuming all three pass screening?

We also retain the right to vet (screen and approve) any new tenants.

A lot of times, facebook has been great in locating people (or their relatives) or screening tenant applicants.

Screen your tenants well and enforce your lease.