I've encountered these types of nit-pickers before, and they usually don't complete the application.And you have to be delicate sometimes because you don't want to be (or be accused of) acting in a discriminatory manner.

I hesitate to mention an actual COACH as someone may accuse me of ADVERTISING for him... but let's give it a shot.

The bank has the same recourse, so I don't see why they wouldn't, but no one has ever accused banks of acting reasonably, so YMMV.2) Get the property owned and financed in your name, then rent it to your LLC.

Then meet with them, thank them for paying you good, but you have had repeated complaints, issues that your witnessed and request that they leave in the 30 day notice.  

Or can this be done with just a Notary and Witnesses (example: at a Bank)?

With the type of profit I figured (about 20k annually) I just don't see the downfall other than the 'headache' that goes along with it.Thanks Jennifer,Thanks for your reply and question.Although I don't know the area you mentioned I have had experience with hundreds of deals in lower class areas (mostly SFH).It was difficult enough managing and collecting rents in these SFH and I couldn't even imagine what it would be like managing a multifamily in such an area.I have personally never owned such a property so I can't speak with full confidence but I can say that I have witnessed many similar complexes become revolving doors over and over again.Investors get attracted to the cashflow potential but end up loosing 6-12 months down the track.

A typical "good deal" that I just witnessed an investor make is purchasing a property for $163,000 putting $7,000 in repairs and renting for $1300/mo.

I think 10% is just an illusion of safety for you.But that is just me.If I had a deal, I rather tell the seller I am cancelling the contract than giving in to greedy people (not accusing you).A good deal is a good deal, and there are legit ways to handle risk... basically eliminating it as much as you can.By doing due diligence on the house.All such things like "skin in the game" does is create a false illusion of safety.This because, me ALSO having something to lose is not making the deal any safer.

The people named in the indictments are accused of lying on credit and loan applications to guarantee their clients got the loan.

Just you, the tenant and your witness.