Regarding the market, the need for student rentals seems stable because of Eastern and UConn.

And I don't have a 1-2 year job history as an independent contractor to prove how much I'll be making. 

For example if you look at the trade history for many properties recently sold you can see the asking price and the sold price.

Aside from that we have all the history to support the numbers.

I am hesitant renting to them with his financial history.  

Bought a house recently in Los Angeles , CA will be renting a few of the rooms, besides the following what else do you recommend for potential tenants.1) Credit check2) Previous rental history 3) Lease agreeemtn - can I get some example forms Thanks

Be careful not to close accounts showing your credit history.

When you look at the listings, check out the price history, if its a flip you'll see a purchase 3-4 months prior at a lower price.

I think it would be foolish to be completely closed off to them.One thing to check when buying a condo to mitigate this risk is the history of the association and financials.

Given the fact that you don't have a record of renting the property and don't have a long history with a bank as a landlord, getting a re-fi based solely on rents will be nearly impossible.