I just completed a 80K HELOC with a local credit union.

Low FICO scores, Income stability issues, rugged rental pasts???

To your original question Karen, as private lenders you are going to get deals where borrowers have low credit scores or are in tricky financial situations.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

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

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Onerent’s current Net Promoter Score of +40 is 46% higher than competing property managers.

Our properties are a strong mix of appreciation, rent growth and cashflow positive in year 1.Going on 6 years I have never had to even give any late notices, etc. for my northside chicago rentals, it's multiple applicants 700+ scores when list the units online. 

They're like bank & credit union loans... but with (i) more leverage, (ii) more interest only, (iii) [typically] lower rates, (iv) non-recourse structure, and (v) no deposit requirements / no requirement to start "a relationship". 

Good morning, BiggerPockets Family.I recently submitted a Residental Purchase Agreement (RPA) with a pre-qual letter from my credit union and FICO scores.