I also did some investigating online and see the renter has a tendency not to hold down a job.I offered asking price (fair market) because it was the sellers bottom line and the fact there were already tenants renting.

I haven't investigated this option yet.

I have applied, scheduled to have the lead investigation for hazards soon. 

If you are looking for cash buyers who don't do any investigations then I'm not your guy. 

I was under the impression that it typically is a lower cash flow then STR which is why I haven’t don’t any investigation.

If you need an exit for a reset this may be an option you want to investigate further.  

We use a YTDpaystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make surethey’ll always be able to pay the rent on time.

After the purchase, Thorpe created 3917 Densmore LLC and established Walters, a Northlake employee, as the sole member of the new corporation, claiming that Walters was the homeowner, and that he intended to live in the home.During parts of the investigation Walters and Thorpe shifted responsibility from LLC to LLC and from person to person.

This is a great place to learn and further investigate investing in real estate.

This is a great place to learn and further investigate investing in real estate, Kerry!