You buy the property and you have to live with the existing leases in place.Look at the leases and verify the rents are current.See if you can talk with the tenants to see what problems they have with their unit and what their plans are.

We screen first, telling tenants that we don't accept smokers, we want a 670 credit score or more, that we want them to bring verifiable gross monthly income at least 3x the monthly rental to any showing we set up, etc.

You should learn how to verify ownership of a property and find their contact information another way to ensure you are contacting the right person for a reference.

It's difficult - often impossible - to verify their identity, address history, ability to pay debts, or criminal history without a social security number.

@J Case why are you jumping to conclusions without verifying?

PURCHASE PRICE AND MORTGAGE: I purchased the property for $270,000 put 25% down, and it appraised for $290,000.There is a complete identical property to mine directly behind my unit and it sold about a month ago for $280,000 the same day it was listed.

Hey Donna,Verify bed/bath count and square footage with the other rental listings that appear, but the median rent should provide a rough estimate of rent per unit.

Are they police reports that will verify drug activity?

We always consider gig employment so long as it meets our qualification of 3x the amount of rent and verifiable income for 1 year. 

I am firm on verifiable income is 3x rent!