Anyway, code enforcement asked to see the inside of the apartment & i agreed as i was doing some improvements inside like painting etc.....afterwards he nailed a red tag to my wall which i didnt pay much attention to because I was literally unaware of what it was or what it meant.

One could have a hundred doors, but is in the red each month.

But my risk/reward needle for me personally is in the red for the overall economy for the next several years. 

I see why many of us on BP want to keep admin work to a minimum and reduce the necessity of extra entities and extra bank accounts, but these are things that the big players do. 

People always forget about something that throws a red flag and if you can't prove that your original intention was to occupy the house as a primary residence, then it is mortgage fraud.

There are a number of red flags for the tenant you are considering - the bankruptcy, the charge offs - all of those indicate they aren't handling their finances well - and YOUR RENT is about to become the biggest part of their future finances... so that should give you (and your mother) pause.  

If your prospective property manager cannot provide a number of references for you, consider it a red flag.2.

if you think it's expensive to hire a professional, wait until you hire an amateur," ---Red AdairBest to you!

Its not that the operator does not qualify its just the banks by and large do not have that product.. what a lot of bigger players do is use their securities as collateral and pull loans through that avenue and those can be very good rates..

I'd be worried if people were coming to the home for his business, but if he's simply using the address (same as a PO Box, though to me that would send up a red flag for a business to have a Box #) I wouldn't worry about it.