Lenders title insurance policy should be obtained and all documents properly prepared and filed accordingly.

Make sure you have a fax machine, cause you'll need to send your documents that way.Rental registration is $70 each, plus convenience fee.

Afterward, have the document reviewed by an attorney.For example, suppose two friends decide to pool resources and invest together.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

If one follows the news, there is crash almost every month, if one follows the money, there is money in every month!

If this past Sep24 and current Oct24 doesn't mirror Sep 2007-Oct 2007, which if you read the news articles back then to now you'll see how similar they are.

The loan application information is then verified during underwriting by income documents such as pay stubs or tax returns. 

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.Seller should give you all of his bank statements for the time he owned it, plus the operating financial documents (including rent rolls)that he received when he bought.Then find an apartment broker in the area and find out about rents in the building and in the immediate area.

Quote from @Daniel Frank: Quote from @Bruce Lynn:Good news then on that one if it is cash flowing well. 

Hey Marc, When tracking your real estate activities for STR management, particularly to prove material participation, it’s important to clearly document each task you perform.