They actually granted us an exemption from the requirement for some time, because A) they knew is was really not viable, and B) we have a solid track record of providing quality client education that they could trust.One option may be to move your IRA-owned LLC to another custodian that does not have this requirement, which really is meaningless window dressing.I will add, we are a  very compliance oriented firm with a distinctly conservative approach to reporting and operations using the IRA LLC platform. 

@Luke GrieshopFirst position is the first note and mortgage lein recorded against a property.Second Position is any subsequent note and mortgage lien recorded against a property that already has a first.Basically First and Second indicates superiority of the lien and who has first dibs when it comes to foreclosure. 

Auction.com handles foreclosures too... and likely H&M as well... so this is dangerous water to wade in without experience.Absolute first step is to learn how to access all necessary public records in order to conduct a basic title search on your own.

Provided you do adequate pre screening you should be able to narrow down your likely eligible list of applicants to only a few and show the place individually. 

That is big variance.If he owns that much then likely a lender he has used in the past is going to give him the best terms with his track record versus a new lender relationship that is unproven and a one off loan.

So, when this lady applied, I relaxed my screening and on top of that, the government(Section 8) paid 100% of her rent. 

You need to do some in-depth studying regarding screening tenant applicants if you do not know who to use to screen.

You can create master lease forms, and archive tenant leases, so at lease renewal, the new lease is automatically created.They have tenant screening as well, but I don't use them for that as I used another one for many years already.

Here is a video I recorded with a walk through a few years back.

As far as how it might affect my descision making process; I am more influenced by income, credit and past record with employers and landlords as a reflection of their character and behavior.