I have a rental applicant who has a background check that is clear. His credit report has no debt, and no bk or other negative information but he does have late payments and one collection on a very small amount. His score is 550. When I asked for income verification, he sent me one bank statement from an account just opened in January, with one single deposit of $26,000 that he said is a commission check. He also sent me his business incorporation form from 2018. Getting anything from his was tough. I asked if he can provide the prior year W2, 1099 or IRS1040, or any other bank statements. He refused. He said he has many other places that have approved him with only a $500 deposit which is much less than mine ($3000). This is a condo in a premium coastal area of So Cal. He actually seems offended that I would ask for any proof of income. So, I'm wanting to pass on this tenant. Has anyone experienced anything similar to this? Is this typical with self employed individuals? I have no experience at this, so I'm very nervous to begin with.
