If prospects upload ID, pass a quick background check, and maybe upload a pre-approval letter, I think that answers both the security and tire-kicker concerns. 

You are far better off finding something that someone needs to unload quickly. 

You want to be able to get rid of a tenant who is causing problems in the home asap as it can quickly create a hostile environment for the other 4 people living there where now you have all 5 people contemplating wanting to move. 

It's also not going to scale as you'll quickly hit DTI limits even if you can get the numbers to work.

When calculating that into your analysis you’ll see that can eat up your profit real quick.

Well, once I started the process of buying I was quickly introduced to the importance of title insurance.

If your tenant hasn’t paid the full first month’s rent, the best thing to do is address it quickly but calmly.

.: It's a fair proposal, but I would have headed that off quickly and said no in the first place.

Quick question for deals like Deal 3:  When you own the note and foreclose, can you just sell the home and keep the overage? 

Well, those are my thoughts, and above all, I trust God to guide as I continue in this lifelong journey