It's a riskier loan given you do not carry a social security, no US credit & no experience.Due to increased risk comes mitigation (Lower LTV & Higher Rates)

Supposedly the tenant hasn't paid and she filed for eviction but the judge required the property manager to apply for assistance on behalf of the tenants before proceeding with an eviction.

Many laundromats take card payments these days, which is very helpful in verifying revenue.Look at the lease terms – long-term leases with reasonable rent increases are important for keeping costs predictable, and can also be important for securing financing.Also, check out the equipment and figure out what repairs or upgrades might be needed in the near future.

Pacer.com is for researching if someone has filed bankruptcy or not.

We have been fortunate to rarely hold any security funds from former tenants.

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

He wanted me to paypal him 750 so that he would send the 20k needed to bridge the gap in the loan.The easiest way to spot a red flag is to start with going through a title company. hopefully you did nto give this person your social security number or other private information.

I haven’t made any profit yet and I’m wondering if I should still file taxes for my “business “. 

I think it would be financial suicide to give up a 500k a year job that you know how to do and is secure to launch into thinking your going to replace it with rental income.. unless your sitting on 5 mil plus in  cash with no debt.

My updated expected monthly rental income will be $2,800, resulting in a cash flow of $795 per month (excluding my share of the split utilities).I plan to set aside at least 80% of my cash flow for property-related expenses.Additionally, I’ll be installing keypads and security cameras for enhanced safety and operational efficiency.