It's critical to know their income, job / work history, when they plan to move, how many occupants will reside there (don't ask how many kids - they could try and play the discrimination card), credit, current housing situation / why moving, pets, what type, do they have money for the security deposit,among other things.I had a guy want to rent from me.... and he had NO job (or money).

Even people who play the lottery, I've never heard of anyone who said it was my first time I've ever played.Hang in there, You should be able to find some active investors in the NY area to help guide you in the right direction.

The fact that he wants to help himself will ultimately play the biggest part in all of this and in his future.I told him that I would see through to it that he is well on his way to settling into an apartment before we part ways.He couldn't have been happier when I gave him his walkie talkie...he immediately asked me, "Can I talk to truck drivers with this?"

He has been evicted several times and continues to play the system.

Play the musical chairs lock game.

I have received most of my deals from relationships I have developed with REO brokers as well as asset managers.Over the last year, I started playing the MLS numbers game as well in an effort to get more deals in this tight market.I have developed a new system to allow me to play the MLS game most efficiently and successfully which I will be sharing soon.I am a firm believer that relationship building is key to getting deals.In addition, if you are not working the short sale market (at least in my neck of the woods) you are really limiting your chances of getting deals as REO's are much harder to come by for rehab investors, the spreads are thin and the inventory is small.

Ivan,You posted in another topic about an inheritance.I commend you for not going and buying a bunch of crap with it but wanting to invest it.I have seen some friends inherit large sums of money in the past that the grandparents and parents sweat blood and tears for them to have and did without to give them a chance at a better life.The friend was irresponsible and lived "high on the hog" for a few years and is now broker "working for the man".I think what you are underestimating is what it will take to do repairs correctly,the time involved,and how buying incorrectly can wipe out a large chunk of your wealth.Not knowing what kind of existing annual return you are getting on your money is a huge red flag.You have to compare the RETURN versus the RISK when moving money around or allocating a percentage of your portfolio of investments.If you don't you are "shooting in the dark" and might as well take a trip to Vegas and play the slot machines with your money.DON'T talk yourself into something and say "it's not so bad".That is what I am seeing from your posts and is the number one mistake of new investors.

Be real about it and expect to need to have some cash if you play the game.

Play the numbers right get rewarded play it wrong get busted.

Her mother lives with her now so I am not worried about another house coming into play.  The