Ouch! Report says he has too many derogatory items.

[Jane S.]

This hopeful 35 y.o. tenant paid to run a Rentprep report, the full one, and it turns out he has $84,000 in debt that he didnt mention on his original application. Rentprep said he has balance overlimit on a bankcard account plus bankcard account balances too high in proportion to credit limits, and not enough available credit. However he pays all the bills on time according to the Rentprep report.  I'm waiting to hear from Rentprep to verify the report info. I dont know what they mean by "tradelines"--he has 14 of these. A health club bill is in collection, and many of his accounts have been closed, with 0 balances.

Applicant started a business in Jan. 2022 and his gross on the 2022 tax return was $52K. He doesn't qualify for the rental, wife not working and 3 little kidz, so the father in law is moving in with them, but "Dad" is in the middle of a Calif. divorce and although he has 3 -401K accounts, will be getting SS, and has a pension from PG&E, it's not clear what the judge will rule he has to pay the wife. 

"Dad" didnt list this daughter on his tax return, (listed 3 other daughters), but she listed him on her app as her father and said he's going to be paying half the rent. He can certainly afford it but what if he decides to reconcile and move out????? Leaving the son in law to figure out how to pay the rent and all his debt? With no borrowing power? I've had multi-generational tenant families before with no problem that I know of, but I know the daughter is gonna brag about her new house to those 3 sisters, and how "Dad" is paying and living with them ... 

Should I move on? I'm not good at analyzing all this data. On the other hand I would dearly love to get this one squared away.

I was very specific about which tax forms to submit and had to ask 2 times, after I got help from my CPA about which ones to ask for. Other self-employed tenants have made it very simple to understand their finances, but they were making quite a bit more $$.

As always, thanks so much for your advice!