Verifying last 2 years of rental history very important!

When we went under contract with the actual owner (the daughter’s attorney contacted us), we closed on the property officially after redeeming the property on her behalf with the Sheriff’s department (she had a full year to redeem) and then the winning bidder received their 85K back from the Sherrif’s dept along with some interest owed.

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

The lender I spoke with in the new area said our DTI is the biggest issue, and that selling one of the properties would solve that problem, but selling one house hack for another of a similar price/cash flow isn't something I want to do.Still fairly new to REI so any and all advise is greatly appreciated.If your sole purpose is to eliminate higher payment debt from your personal credit history, a DSCR refinance would work only in the case that the lender you work with is a non-recourse or recourse non-reporting lender.

For sponsors, we are looking for sponsors with > $25 million in deal history.  

Jerell,Credit and rental history are probably your biggest worries - i.e. do they have the funds to pay and will they pay, and do they owe to their prior landlords. 

We have only used it about 3 years now though so we haven't any serious history.

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

My daughter (20) is not too interested yet.

I understand Detroit has a checkered history with bad areas, but I don't know what the recommended areas for rental properties are right now.