A $45 application fee will apply.Income: Verified monthly income must be at least three times the rent (minimum $4,200 combined).Credit Score: A credit score of 650 or higher is required.Eviction History: No prior evictions are permitted.Should I lower it to a credit score of 600 and 2.5 times the rent? 

This brings me to now, I've taken this approach and have used my own money in lending, but am also bringing in friends and family to take part in these transactions so they can earn way better returns than with CD's.

Without knowing your transaction history I stand by what I said.

I opened an account, a Solo 401K IRA and completed the transaction.

The lower the score, the higher the risk and the more we charge for a deposit.

Here's a breakdown to consider:Cleveland: @Zeke Liston You're right, Cleveland often boasts lower purchase prices, making entry easier.

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

Thus, your profit margin is lower (than the all-cash offer), but your ROI is higher.Savvy or more experienced investors may have access to Private Money.

The entry price is too high.The trick is to get the second acquisition at a lower entry, so you can rehab and refinance 100% entry costs out.

If you are looking for turn-key, your returns won't be as high, but that is mitigated by lower stress.