You would have ongoing filing requirements with the State and would need to keep business records and documentation.

Deduct it from the deposit and send your former tenant their final statement, then shut off all communication.It's unlikely they will sue if you have documentation, but it's always a risk.

To facilitate the flow of information, Qualified Intermediary may also provide information and documentation to third parties whom the Qualified Intermediary reasonably believes to be authorized by Exchanger to receive such matter.

Also, if you have limited or no history of rental income, you'll have to get an appraisal on the departing home to document you have at least 25% equity in the home.

While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

Banks might also consider potential rental income to offset mortgage payments, so documenting your plan to rent out the rooms could help.2.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

I provide business advice and document preparation to clients across the US.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

You’ll need to provide documentation such as income verification, credit history, and possibly a property appraisal.