Make sure you hire the services of a professional real estate agent not to suffer the consequences of this crazy market.
These are some of the precautions you need to take when securing a rental:
1. Verify the agent's credentials, unfortunately not every is who they say they are. This verification goes beyond receiving just a business card.
2. Verify homeowner's identity if you decide to do this on your own.
3. If there is an existing HOA you need to talk directly to them and find out about approval and payment history.
4. Check Civil Case Court to find out if the property is in foreclosure.
and always keep in mind the golden rule, if it is too good to be true, then, it most certainly is.