Nowadays, people can make paycheck stubs/W2's that look convincing so just make sure you invest in software that gathers verified information on applicants.  

I wouldn't worry about small details like setting up LLCs, just focus on establishing a solid market and making good connections with people on the ground there. 

And this is a biggee wading through the fake lenders or the Joker brokers that tell you what you want to hear  but cant get the deals funded and you lose the deal and a lot of money.3. with actual PML  private people  usually have very limited funds so cant scale with them.. they can have a life event and just stop doing loans all together..

Only let in A+ people--no matter what. 4. whatever task you can't handle hire someone.

Get them out and start with leases and only rent to people that you have screened. 

More than anything, real estate is a people business.

There are all types of people in this world, many people have different stories.

Don't expect these people to have anything to do with you once the transaction is over and a lot of bitter, nasty fights along the way. 

All the people I know who bought there did it for lifestyle.

I think I went through 3 different people that were over my account because they would quit.