You may need to fax authorization for background check to the companywhen applicant is in a rush (need to move-in this weekend) or offers prepaid rents, these are red-flags - - something's wrong in their lives.Instead of an eviction, attempt to gain possession via the Cash for Keys strategy. 

I am familiar with quick reviews of balance sheets and P&L statements but the whole nuts and bolts of correctly entering transactions into an accounting software to generate these things is new to me.I prepaid for 2.5 years and at the end of that will assess how Rent Post compares with other applications and could likely switch back to Buildium or some other system at that time.  

Worried about a big tax hit with pre-paid rent but proceeds stuck in escrow.

Any prepayments are to be applied to the payment of the installments of principal last maturing and interest will immediately cease on the prepaid principal.

If I feel I need to collect extra deposit or extra prepaid rent, this is a sign that I'm not following my screening criteria and just pass. 

Prepay penalty is 5% of the amount being prepaid.

It allows a 0% downpayment so that at most you only have to cover the closing costs and prepaid taxes and insurance to buy a home!

That will give you time to increase your available cash and savings for reserves.The VA loan is a great benefit (0% down with no PMI), but there are still upfront costs associated with the loan such as the VA Funding Fee (although this can be financed into the loan amount), closing costs, and prepaids which must be paid at closing.Even if you're able to qualify for a loan right now, you'd likely be using a significant portion of your savings/checking to close on the home, and leave yourself in a bad spot if the HVAC goes out, water heater stops working, or an appliance has to be replaced.

I would offer to refund some of their deposit or prepaid rent if they leave your place in good condition.  

@Brandon L.I use to work for Prepaid Legal.