What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

We strong suggest to always get a Real Estate Attorney to review all documentation and prepare the seller docs (do this always - even if you have a Realtor).Most BP members are experienced enough to feel comfortable doing this themselves ... after you do 2 or 3, it will become routine.You are saving thousands of dollars so you will need to do a bit of work yourself, but it is worth it.Never pay full commissions any more ... if you decide to get a full service Realtor to list your house, that is fine (the Entry Only concept is not for everyone, we understand), but always negotiate a flat fee. % commissions are not valid any longer ... what additional work does a Realtor selling a $600,000 has to do than to sell a $400,000 that is worth $6,000 more in commission?

If you decide to use the property as a second home, 90% financing is available on a full documentation loan. 

There's a contract in place and that decides who gets paid what- you don't have to like it or think it's fair, but it's a binding document. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I was also thinking about a real estate course but as per my understanding, I wouldn't be able to be licensed because I'm still not living there, so my plan is to wait a bit more to enroll in a course to make sure I'll have all my documents ready first (apparently after the completion of the course, I will have no more then 6 months to do the exam to get licensed).Sorry for the long post (and maybe some grammar mistake) and thanks in advance to everyone :)Chiara Hi Chiara,Her course does teach you her way of analyzing properties and local trends by zipcode, but what I discovered after meeting local investors is that everyone has their own way of analyzing properties and their own interests in the different neighborhoods.

You just can't sign any documents.

If that's true or not, I do not know.After reviewing the ~60 page tax document for that year, it looks like she added the following:- Schedule D, Line 10 ("... all Txs reported on Form(s) 8949 with Box F checked") = Adjustment which equals all profit, excluding depreciation, and then the only gain was the depreciation.- Form 8949, Box F is checked, as I received no 1099-B.  

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

I would only do it if the amount were worth the trouble and I had strong documentation to prove my case.