If you're unwilling to charge a common fee, I wonder how you're going to handle a problematic tenant who is late on rent or responsible for paying the plumber to remove a kid's underwear from a clogged toilet.How will you conduct a credit/criminal screening without an electronic application?

I needed to move to get my kids in school and the assumption was not going to happen fast enough.

I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

I personally own 6 WL policies (2 on myself, 1 on wife, and 1 each for our kids) and have been practicing IBC now for over 3 years. 

jk just kidding but welcome. i would love to learn more about the types of lending that would benefit myself in the house hacking world. take care. 

I used to get a ton of email from him last year and one was announcing that his kid brother had died of cancer.. sad enough but the man was asking me for money for his brothers family.  

They are almost certainly responsible for issues caused by abnormal use or abuse, such as a kid sinking his battleship into the toilet.

Kidding man.I have a 10-Unit that I'm placing tenants in now so I suspect the same diligence will be coming my way. 

I am guessing it is just kids tossing them in their bags when their folks try and get them to hustle up.