Hello Cherilyn,I think you have a couple of options, the good news is that they are paying you, the better news is that you are collecting late fees.1.

Man, you’re killin' it already with 6 doors in 2 yrs—that's impressive!

I know that DR Horton and Impression do

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

If you collected an insurance claim you would only be able to collect your out of pocket (ie deductible).

(Say 60% LTV) Do you have enough reserves to go after the collection of this debt if they stop paying?

Usually, this would be in the form of a rent roll and contains everything related to your property related to vacancy, rent collected, expenses, fees, etc.

do I now Request for Tenancy Approval (RTA) form so HUD could come inspect the property and starting collecting rent (assuming inspection is passed)?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

And collect income, pay bills etc.