So think twice before taking any outsized risks, as you already achieved a nice equity base, and you don’t want to end up screwing the pooch by taking unneeded risks ;)Good luck and keep us posted on your decisions…

I would encourage you to sit down with a couple of real estate salespersons and choose one based upon experience as well as knowledge of the area. 

Hey Jason - if it's a 1-4 unit, you would need to value it based off the sales comp approach (assuming the buyer is using debt financing).

Yes, there are times they do win and make money, but not on a frequent bases in my experience.  

That means making calculated numbers based decisions, not emotional ones.

You are correct; I made an assumption that we wouldn't be able to sell through a realtor based on the factors against us.

I have only been declining based on credit so far so I haven't gotten to the point yet where I needed to do the prior landlord interviews, but will definitely be interviewing as many prior landlords as possible.

Would that loan include the renovation costs based on the ARV?

I'm based in Windsor, Ontario, Canada, and I'm new to real estate investment.

If the score does not seem to be backed up by enough credit history to be reliable, I will make a judgement about the tenant's level of responsibility based on their answers.