Or you get lucky and buy during the BEST appreciating markets in the history of real estate.    

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

Fourth, we wouldn’t need to take on debt to make the purchase and we’re comfortable with the costs and management of the place given our history with it.If we buy out the relatives, we would likely pay around $295,000, which we have available now.

We had many meetings with the borrower regarding their history in real estate development and their intended execution plan.

They can network effectively with placement agents - Agents are going to be the primary way a house is filled, so a reputable manager likely will have multiple agents who are willing to work with them already because they have a history of running good homes.

This is the largest private-sector investment in Ohio history.

More than anything this will exclude you personally from claim history (some of which is without merit and is the nature of the litigious society we live in). 

. - Depending on the state, you can access historical sale prices, property taxes and rental history either free or at minimal cost.

Alternatively, if its for the hopes of accessing future real estate loans via the LLC then it may be a moot point as a lot of these bigger banks won't lend on an LLC that's brand new and no history of cash inflows/outflows. 

Steps to Vet a Hard Money Lending FirmReview Their Track Record:Look into the firm's history and reputation.