I have a unit for rent and I have a no pet policy.One applicant called and said she has one of those really small dogs - you know, those they put in purses that looks more like a skinny rat?

Exciting stuff, let me share this with you, exotic strategies presented as if they are applicable to any deal, any time, with no or little money........it's the bait we see.And, no surprise, I just now visited your profile, low and behold, you're a coach and author of real estate books........guess I was right.Now, that isn't a bad thing at all, I also see you're a CPA, excellent!  

However, I have had applications pouring in over the weekend from people that would be interested in renting a room for me. 

Personal alarm in the bedroom and bathroom (Call buttons)If the property is quiet old, then ADA compliance may not be applicable.  

They should be very knowledgable about applicable laws.

There is some variation among the different States that offer the Series LLC, but you will likely only being paying for a single registered agent and single annual State compliance (if applicable).

I’d target a 2 bedroom house for under 130k in Brentwood, Avalon, Bellevue, Beechview, etc or any of the C+/B- type neighborhoods where you’ll get solid applicants without needing to make exceptions on credit or whatever. 

What you should be doing is looking at how they compare with other applicants.

I’ve found that when you get a lot of interest but no applications, it usually means the house is overpriced.

Also make clear there is a fee for the application.If you specify you do not accept any tenants with previous evictions and you charge application fee I don't think you would get many with evictions.