Not only can you collect rent to go towards your mortgage, you're also building equity that can potentially be used down the road for your next home or investment.

What if they have collections or judgments?

Property owners are a prime source for collecting revenue.

Personally I pay $300 commission to get the new tenant, 8% of rent collected, and $150 for renewals.

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

Was it difficult collecting rent as a landlord, during 2-hour long gas lines? 

- Also, what is their networth, so they are legally collectible for the guarantees?

The only real difference is when you start collecting rent after purchase.How have you weighed this against the probability of tenant nonperformance?

We  dont know if we are closing on the 1st of the month or the 30th of the month so we don't know if we are collecting 1 day of interest or 30 days of interest. 

@Yoni Kaszynski, with a co-signer what I focus on is whether they are "collectible".