Typically a rule of thumb is with no experience and average credit you are looking at 15-20% down depending on the rehab size and complexity. 

Here's a guide on how to screen tenants.I recommend you include some of your key qualification criteria in the advertisement.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

- Proactive Tenant Management – Focusing on a solid tenant screening process and keeping up with regular communication and maintenance has helped cut down on vacancies and avoid evictions.- Tech-Driven Operations – Using property management software for things like rent collection, maintenance requests, and communication has made everything smoother and saved a ton of time.- Curb Appeal & Upkeep – First impressions matter!

Listed it on Furnished Finder, Facebook, AirBnB, ZillowAs a long term rental, in one day, I got 10 contacts, 7 out of whom filled out my pre-screening questionnaires and disclosed their income, etc and at least 4 of them scheduled a showing for this week. 

Always have the tenants pay for the screening.

Your focus should be on growing a profitable and sustainable business, and rarely does this correlate in anyway to the size portfolio you can grow  as quickly as possible.Before you concern yourself with your partnership agreement you should revisit your investment thesis and strategy. 

Together they are 0.92 acre, which is a nice size.