Prospective tenant - no income, exceptional credit

[Samantha Springs]

BP! I have had the back unit of the duplex I just purchased to house hack listed for almost a month. I have had some showings but no applications until today. The applicant has no verifiable income (he is an artist and woodworker), but has basically zero debt and an excellent credit score (almost 800). He has lived at his current place for over 5 years and I have asked for his bank statements and will check his references. He says he is getting a regular job in Q2 of this year, but who knows. 

He told me of his situation during the tour and he is willing to pay several months of rent in advance. The home will be for him and his pre-teen child. Thoughts? Run for the hills? Wait for another applicant? 

[Bill B.]

Ask for a couple years of tax returns?

As a landlord I’d be skeptical. What does the previous landlord say about them? Why  are they moving? Do you trust the previous landlord?

As a person with a credit score a couple dozen points from perfect. I’ve said over and over. I should be allowed to borrow “unlimited” money as I’ve proven an ability for over 40 years of paying every single debt I’ve ever taken on, on time. 

I guess I’d look at the tax returns and see if he declares his income and is making 3 x rent.