It also depends on how bad their credit is and WHY.Verified income, job stability, rental history....WAY WAY more important than credit score alone. 

I've requested a ledger from the owner to verify the tenant's payment history, but I'm aware that documents and screenshots can be falsified.

You only need a place to track tenant information, payment history, maintenance, etc.

You only need a place to track tenant information, payment history, maintenance, etc.

- Expertise & Track Record: experienced team with a proven history of success- Market Knowledge & Network: local market expertise and strong industry connections- Financial Strength & Flexibility: access to capital and flexible investment structures- Operational Efficiency: effective asset management and cost control through vertically integrated property management and leveraging economies of scale- Innovative Strategies: value-add projects, portfolio diversification, distressed funds, niche markets, etc.- Technology: use of data analytics that can lead to more informed investment decisions, and integrating innovative technologies to improve operational efficiencies as well as improving tenant & investor experience- Strong Investor Relations: consistent, ongoing and transparent communication and educational opportunities for investors, including a peek behind the curtains inviting them to the office for events and internal investment committee meetings- Customer-Centric Services: customized solutions to meet specific needs and interests of various investors and full-service offerings from brokerage, property management, leasing, to funds/syndication opportunitiesWhat else did I miss?

If the answer to all three is Yes, I buy.And let life unfold.I have NO IDEA what the ultimate return will be….NONE….And neither does any other investor if they are honest…..most crystal balls I find are broken.But if one acquires the property is a solid long term manner based on fundamental investing principles and is never forced to sell…History indicates the long term trajectory of price and rents are up.In my experience, real estate follows cycles……. 6 or 7 years of a bull market, 1 or 2 years down (though the up is always larger than the down), 1 or 2 years of flat which then sets the floor for the next run up.

All you need is a single place to track tenant information, payment history, maintenance, and a few other things.

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

Depending on your credit history and reserve amount, some lenders may allow up to 85% financing on the purchase.        

I probably would have returned all,  epsecially if tenant had a good 10 year history, unless they left the place beyond repuslive or damage with intent.