I had a case where the guest was lying on a few matters, number of guests, Italians declaring as residents of California, of course first time bookers, profile pic being a cartoon, Italian passport name don't match the guest , etc...

., pensions/entitlements) coming up, and let's not forget that Central Falls did declare bankruptcy in the last financial crisis.

and keep building your risk muscles...

I have not connected the dots yet with Obama's recent declaration and what it means for the folks' statuses for housing options under section 8.  

In addition, the tenant must meet some basic financial requirements (i.e. not make over $99,000 a year or $198,000 jointly) and fill out an Eviction Protection Declaration.

If you're putting an offer in, it is usually mandatory, at least in our state, for a buyer's agent to have a buyer-signed document declaring representation, so I have to have them sign a buyer broker agreement before writing an offer, but it is non-exclusive. 

Also, check out your insurance requirements before making a commitment as well because these days, some insurance companies around here are declaring their own surge zones or flood zones and either not insuring within them or the rates are extreme.    

If I were in that position, I'd keep things clean and take the commission--there will be lots of deductions from the purchase and closing costs anyway.You may be bold on your deductions but NEVER cheat on your declaration of income.

Let's recap: You make an initial investment of $100K ($25K down for 4 separate houses), earn $1000/mo in cash flow ($250/mo x 4 houses), and each house appreciates 3% per year.You'll need to determine:How much you will have earned in 5 years (assuming you sell the property then)What annualized return that total future earnings amount would representYou also need to declare/establish:An amortization period for your 4 mortgages: Let's say 30 years.A mortgage rate: Let's say 4% annualized.A discount rate - the interest rate which you could earn on the cash flow you collect each month: Let's set it at 5% annualized.OK, let's do this!

Of course they conveniently forget the times they predicted it...and it was "delayed" until next year (which also never came), but they will remember when they finally guessed got it right and declare themselves (and will be referred to by others as such) to be an expert...for correctly predicting an economy crash/downturn.