You can use a bank statement program, (1 year 1099) and depending on your schedule E or how you show your passive income or Schedule C depending on business tenure you can use just one.  

@Chris C.

While these criteria work well for Class A and B properties, they might not be suitable for Class C.

A typical snake is configured for 100 feet.Call another plumber and get a video of your sewer line.

Often, it will also need work.So, that is causing investors to lower their standards and buy Class C & D rentals.Problem is, most investors apply Class A assumptions to these Class C/D properties - and then blame everyone else when they don't get their "expected" results.Check out copy & paste info below for more dtails:------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Derrick Roland II Let's see, traffic noise, challenges backing out of your driveway, have to keep kids in backyard and off front sidewalks, big trucks passing by will shake the whole place, can't think of anything positive.All the negatives will reduce your max rent and make it harder/longer to find tenants.What's more important is understanding if the Neighborhood is Class C or D.

Then I find out a week ago they sold the property at a loss, ALL my capital is gone, and Ken McElroy goes on his merry way making youtube videos about how much money he is making. 

But again, Chicago is a town where if you are one block over from the good area, you can go from an A to a C crossing the street.

We are class C and don't think we are competing with the newer construction apartments, so I think we should be OK.

I've been an investor class B/C turnkey properties for just over 7 years now and my % of gross rent seems to be ~21% to 25% so far.