How do I verify if NMLS ID is active?

It's possible there are Fannie Mae requirements in play, but it's always a good idea to double-check with a different lender or do some independent research to verify.

Also, in our opinion, many investors make the mistake of assuming their first task is to ID an area to invest in - when they should FIRST be deciding on what Property Class to invest in -> then look for an area.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Our OPINION for the Metro Detroit market (always verify each area for yourself!)

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

You need to verify all the numbers yourself, find your own contractors / GC, find the comps yourself.

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

Regarding credit scores, it depends on the Class of the rental.Class A properties we typically want 680+, Class B 620+, Class C 560+.We'll also give applicants a 20 point exception if they have stable 2+ year employment and/or verifiable 2-year rental history. 

However, if they have not even made a partial payment or communicated & verified an issue with me by about the 21st, I will issue the "pay or quit" notice.