If you have the time to be able to do so, please look over the scorecard below and let me know what you think.Minimum Qualifications qApplicant MUST be 18yrs or olderqApplicant Must Have A Minimum Credit Score of 580 From All Three Credit Reporting AgenciesqApplicant Must Have Verifiable Income and Make At Least 3x Rent Monthly (Joint Income if Married) (Proof of Income Required)qApplicant Must Have Good Reference from Current/Past Landlord(s) (or Supervisor if previously Owned Home)qApplicant Must Have NO Current/Past Evictions, Judgements, Collections, Or Liens from Current/Former Landlords. qApplicant Must have valid, non-expired state-issued photo IDqApplicant Must have A Social Security NumberqApplicant Must Possess an Open Checking AccountqApplicant Must Not Have Been Convicted of Felony/Violent Crime/Drug Related Crime Within the Past 7yrsqApplicant Must NEVER Have Been Convicted of A Sex Crime or Be On Sex Offenders RegistryqTotal Occupancy Must Not Be in Excess of 2 Persons Per BedroomDisqualifiers: qRuns a Business From Home (Online Sales of Art/Crafts exempt)qNo Employment or Employed Less Than 2 monthsqSection 8qIncomplete ApplicationqIllicit Drug UserqHas More Than Two petsqHas Exotic and/or venomous petsPositive Qualifiers q(+5) Has Credit Score between 580 and 619q(+10) Has Credit score 620+ q(+10) Has Rental History of 1 year and Landlord Had/Has No Issues/Complaints q(+15) Has Rental History of 2-4yrs and Landlord Had/Has No Issues/Complaintsq(+20) Has Rental History of 5yrs+ and Landlord Had/Has No Issues/Complaintsq (+10) No Late Payments Over Rental Historyq(+10) No Broken Leases Unless Health/Safety Issues [Exercising Military Clause Okay] q(+5) Same Employer 1yrq(+10) Same Employer 2-4yrsq(+15) Same Employer 5-9yrsq(+20) Same Employer 10yrs+q(+10) Current Manager/Supervisor States Only Good Things About Applicant q (+5) Has Checking and Savings Accountq(+10) Will Pay Online q(+5) Will Pay Via Money Orderq(+10) Has Renters Insuranceq(+10) Has Total Move-In Funds Available Todayq(+10) Positive Valid Referencesq(+10) Vehicle Interior and Exterior CleanNegative Qualifiers q(-5) Is a smoker q(-10) Currently Owes Back-Due Child Support q(-10) Currently Has Delinquent/Negative Accountsq(-20) Has Filed For Bankruptcy Within Past 2yrs q(-20) Current Employer Raises ANY Concerns q(-20) Asked for Upgrades/Changes/Modifications Prior to Acceptance q(-20) Has Lied to Prior Landlords/Property Managersq(-20) No Prior Rental History

I prioritized known occupancy over piecing together STR tenants in the “off-season”.

Starts you off with safety net money out the gate.

You posted that "the tenant fixed the gas line"- was it leaking gas and possibly a safety risk?

You allow the tenant to break the lease when there is a legitimate threat to their safety.

The problem is a lot of people make poor judgement calls, make cheap repairs (whenever they get around to doing it), are not compliant with their town (COs, fire safety, rental registrations, etc).

I think it's better to keep liquid cash until you're big enough that you can get a line of credit as your safety net.

I am a bit worried about my elevator and safety/liability.

FHA also has condition requirements (safety, security, soundness)-no peeling paint on pre 1978 homes, functioning mechanicals, roof with some useful life left in it, etc., so can skip looking at heavy fixer uppers if you definitely want to use an FHA loan.Also, not sure the plan with your friend helping you out-but if with down payment funds, if loaned, think they'd count that as a debt burden on you or require them to sign that the funds are a gift.  

Overall I'd recommend reflecting on what you are trying to achieve and what you want to prioritize.