I rented a 4-bed house in Royal Oak, then got 3 roommates that I charged each 30% of the rent, so they covered most of my  rent.You can do the same if you buy a house:1) More rooms the better, if renting to fellow college students.2) Can YOU live in the basement?

You'll generally need to do detention to offset for any impervious cover you add to the property.

What do other property managers consider, actually do, or add to their tenant screening criteria to cover retirees?

If you're worried about cash flow, put enough money down so that a current estimated rental price after the home is renovated will cover the mortgage and property manager costs.

They'll also be experienced in the vetting process which can be a huge help down the line.Once you have the tenants covered then you can refinance into a DSCR loan.

Hello,I have a potential tenant that is part of a Community Living Program and I am looking for other peoples experiences dealing with these types of tenants.So the tenant had a traumatic injury and now their insurance pays out a set amount each month to cover their living expenses.

If it costs $500 to fill the oil tank and the tenant leaves it empty, that's $500 less you have to cover unpaid rent, cleaning, and repairs.

So could you take out the $50 you need in a term loan and also open a LOC large enough to cover any issues that arise?

That is where RE comes into the picture.

I wouldn't consider a SFR to be a mistake if the rent can cover the expenses.