They’re typically stable, cash flowing businesses that are straightforward and simple to understand.

So far, we've followed up with the current landlord and they have stated that rent has been paid on time for the couple.

This was the standard procedure we had been following, and after the inspection there is a net14 payment that is, the payment will drop within two weeks if it passed inspection.

In areas such as NYC the market tends to be a little lower, from what I understand.

I understand you don't need a lot of space, but you are paying someone else's mortgage.I would start with a fixer-upper investment, up to four units.

CoStar) to understand the rental market (rent amounts, absorbtion rate, etc..) but that service is fairly expensive. 

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

BP has done such a great job of promoting SFR investing to the masses, that those masses have pushed up real estate prices to where it's now DIFFICULT to cashflow right away.Keep going, but understand you won't get rich in real estate overnight - it's a long-term wealth building strategy.For the short-term, recommend joining a few in-person investor meetings if possible, otherwise online ones.

Most turnkey companies proforma does not tell the complete story and that is why is called "PROFORMA" OR "PROJECTION", they don't account for the true vacancy, leasing fees, holding costs, and Headache factors that come with a Class C and D properties and neighborhoods.Hopefully, they can help you get to 100% occupancy and sell the property so that you can re-invest in a better neighborhood and relatively newer property like 2020 or newer if is possible in that market, or just go to another market you understand better or have some kind of connection with.All the best and keep us posted on your progress.

I couldn't understand why their credit wasn't better considering their income was what it was and their debts were not unreasonable.