You will want to start with a cover letter then attach to a business plan that goes over at least the following:Mission Statement - including executive summary and financial overview.Business description - name and location of business, principal owners, legal structure, status and type, definition of products/services, major strengths and challenges, strategic goals and objectives.Operation Plan - location, physical facility, labor, suppliers.Market Analysis - industry trends, description of total market, target market, analysis of competition, production/services differentiation.Sales Strategy - Pricing policy, distribution, promotional efforts.Management Profile - personal history of key participants, duties and responsibilities of key participants, compensation, available resources.Financial Analysis - sartup costs, source and use of funds, capital equipment list, income statement projection, monthly cash flow projections and assumptions, balance sheet projections, personal financial statements, personal income tax returns.It all a numbers game - make sure you present your number truthfully and make sure you educate yourself on every aspect of the business.

From what we have seen, the typical prospective tenant who has been contacting us has been a C level tenant with not much credit nor a long history in business.

If yes I start asking questions about the specific property I called about like history of the property in general, occupancy, operating costs, income history, tenant mix, unit mix whatever i could not find out from tax records etc. 

I would say we had close to 100 candidates respond to the ads, ~15 show up to the open houses (but maybe another 5-10 that stated they still wanted to see it but had not made it to either open house), 2 submitted applications but only one not withdrawn, resulting in one hopefully great, long-term tenant (non-smoking, meet our income requirements, 7 years in their current unit, right reason listed for wanting to move (they want a yard for their 2 children and our rent is virtually the same as they are currently paying but now they will have to pay water (been Just over $100/month)), good employment history, no criminal history in their background check - they seem like a very good tenant but time will decide).Good luck

Today we have perhaps 2nd only to the housing boom of the early 2000s, the easiest access to capital in modern financial history.

@Casey Sbrana We've been in the longest economic expansion in the history of the country.

Basically your time in college is credited towards your two year 'employment' history.

In some areas and/or locations you will need an environmental review (statewide DEC or similar and/or local wetlands review or similar and/or review of any EPA-classed conditions and history).

The history of ADUs in the US goes back for generations.

If you've had employment history for the last two years, try an FHA loan for duplex near the UW campus and live there while renting it out to other classmates.