Applicant recently divorced with bad credit

[Fredie Robinson]

Hello all,

I finally finished the rehab on my first deal and put it up for rent yesterday. My question is I have a lady that is recently divorced and has bad credit that wants to rent my house. She has a steady job (working for a property management company, ironically), has 2 kids that she wants to keep in the same district they are in now, and wants to stay at least 4 years. I asked why she wasn't staying in her house and she told me Wells Fargo wants a 10K balloon payment in order for to keep her house. I'm not sure how true that is but should I just pass on this applicant? She lived in her current house for 13 years until her husband wiped all the accounts clean. She has enough for all the fees/deposit/rent. I would just hate to get burned on my first rental.