We still get a mix of applications, so here is my question.

Do not hesitate, to post questions and bounce ideas around in applicable forums.

It not only lets you network with other investors on this site, it has tons of great and free information including online videos and educational courses for you to watch and learn from.

My agent said the bring in $2200/mth but have no other debt or payments.They are stressed about having to move (it would stress me out facing packing all that stuff up) and willing to pay more to be able to stay.I feel we just screen them like new tenants and if references check out I'm leaning towards continuing with them, although they are below the 3x rent income requirement.The property would probably need $3-5k in carpet and paint to ready for new renters so it would he great to have a good built in tenant for a while.Anyone have a situation like this go bad that can share some things to watch out for??

Do not hesitate, to post questions and bounce ideas around in applicable forums.

So I am reading The Book on Managing Rental Properties and Brandon recommends taking a deposit within 24 hours of accepting an applicant.

Stop watching that flip crap on TV and get out into the street and find your own contractors and prices.Sorry to be short and cranky, but I am old so it is OK.  

You just have to watch how you word it.

Anything I need to watch out for or suggestions to take into consideration when looking at a Rent-to-Own situation?

We re-listed the unit  at the very high end of the market and had about 25 applications/calls within two weeks.