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

In our opinion, an investor should only work with agents that meet at least one of the following:1) Own rentals themselves for at least 3 years, at least one of them they bought below market.2) Have a 3-5 year track record of rental transactions, that they can document.3) Know how to calculate 1% Rule, ROI, NOI, etc. and demonstrate how to actually apply them to assist an investor client.4) Have access to tired investors selling their rentals.5) (what can you add here?)

Your margins also need to be better on the deal upfront because you need to have reserves to deal with a 6 month eviction process and you need to do a good job of documenting the evidence.With that said I had a mentor who was smarter than me who said real estate in tier 1 cities is the best store of wealth.

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

We also note the date the property was sold and the lender can easily verify recording of the documents. 

Does the documentation she sent say she was leaving as of June 30? 

Communication, photos, and documentation is everything in this business. 

In any event, get them both to sign a simple document about how the money is to be distributed if an agreement can be reached.  

Typically they will need to see 12 months of documented income from the property.

Also another reason people can need to pivot from utilizing conventional loans is their DTI gets capped or they are self employed and thus despite having ample liquidity to conduct the transaction they’d trying to do, can’t document income to the lender’s standards.