If it's HOA/Condo vehicle requirements you're worried about, it's usually already in a standard lease that they follow those; otherwise, they'd probably expect tenant to comply with city codes unless there's a viable reason an owner wants something more strict. 

When I self-managed C Class properties, I would put the requirements for tenancy in the rental listing (3x rent in income, 1-month security deposit, criminal check, etc.), and then when the potential tenants called in, I would speak to them for a few minutes, explain the requirements, get some sort of verbal confirmation on some or all of the requirements, and then invite them to different showing times I had set up.

@Sippy Hira You should be seeking representation from an attorney that speciailizes in Trusts  & Estates if your situation requires a Living Trust.

So the lease will be higher than the advertised rent, they will be responsible for minor repairs, they are responsible for obtaining the proper licenses and pay all the taxes for their business operation (If you don't do this, you will regret it one day you see a tax bill that you as the property owner who are responsible for), and they required to have a STR insurance policy. 

Of course, it requires financial resources, but it is an investment that will pay off in the long run.

This is due to the fact that many lenders provide various loan programs with various periods, interest rates, and minimum down payment requirements.

Unfortunately, due to market conditions, scarce inventory, and current interest rates, achieving a cash flow of a couple hundred per month for a long-term rental requires a downpayment of around 30%-35% if you're financing.

Would they have to go with a non warrantable product or is there some sort of rule that allows it be a new condo building and waive some of the underwriting requirements?

Broker Requirement: It seems like becoming a broker may be necessary to obtain a property management license.

Anything smaller than that would require a more hands-on approach.To succeed in this field, it is crucial to adopt a data-driven approach, maintain perseverance, and establish strong relationships with developers.