@Scott Inno First you need Trailing 12 Month and P&L, Even ask for Schedule E of the sellers Tax return. 

Have e great day!

Originally posted by @Ryan E.

. § §250.501-(b) and (e)).

They acknowledged that I had a perfect pymt record on other properties but it still had to be cleared by their “investigations unit”.  2 weeks later they finally turned it on.You might consider looking for properties that are just cosmetically inferior......e g lots of big flowery wallpaper, pink tiles in the bathroom, etc.  

Something useful on depreciation is also found on Form1040 schedule E instructions.

For sure, @William E.!

@Rich E. thank for letting me know.  

@Evan Miller im looking at a deal like that right now, they have some back of a napkin financials and no T12. your best option is to make an offer based on what you have, just go at a price which make sense to you. add a clause that they have 10 days to provide you with the current Rent Roll, Financial statement Schedule E, Utilities bills, copy of the lease, deposits etc etc. 

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