The amount of capital you have to raise to leverage yourself would be better off spent in the S&P 500 or employer matching 401k.

@Eric Stewart only recourse is to take tenant to small claims court, which you'll need supporting language in your lease to win.Then you'll have to go back to court to get a garnishment against tenant's bank or employer.

For income verification, I plan to obtain a copy of the employment contract.

We love the Biggerpockets community and since this is a public forum, I’d like to share that Beverly is 100% correct that our CPA firms are part of our community and use our platforms, trainings and resources, but they are also all business owners and entrepreneurs themselves and are not employed directly by WealthAbility.

I use the following criteria: Applicants minimum requirements Policy:Applicant’s gross monthly income must equal approximately three times or more the monthly rent.Applicants must be employed and be able to furnish acceptable proof of the required income.Applicants must have a credit score at or above 600.Applicants must have good references concerning rental payment, housekeeping, and property maintenance from all previous Landlords.Applicants do not have a history containing evictions.Applicants do not have a history with felony convictions.

Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc.

Market Data- I like to personally look for top employers in that market & how many employees they have, look at trailing population growth and the direction it has gone, the population itself if it is an tertiary market, job growth, median area income, etc.

Hello everyone,I'm 18 years old and with  average FICO score 715, I have a 5-10 percent down payment, with only 6 months of full-time employment (annual income 52k) and 1 year of part-time work history (annual income 20k).

If this is strictly an investment property, you could do a DSCR like others have mentioned to circumvent the need to show employment history/income/DTI.

Heyy how are rents out in Shelby and major employers?