They would also start making rent payments immediately (if he pays for 6 months upfront) to show ability to pay.  

We are intelligent humans on this site and we have the ability to look at the people that submit a rental application, evaluate their situation and apply a reasonable decision regarding whether or not they are an an acceptable risk client.

In my honest opinion if you aren't confident enough in your knowledge, network, and abilities to make the decision to self manage an easy one, then hire it out to a pro.

That's why it's strange why the Fed has concern about job changes in Austin.For us in Bay Area definitely there's structural changes in the job market, there's massive acceleration of "forced retirement" so old folks above 58-ish are targeted for layoffs ; and only those who have capacity/ability to code and understand new BS like AI/ML ( lol ) is stay in position.

What made my investor interested in this deal is having the ability for multiple exit strategies in the hot neighborhood of Pottstown.

Regulation and permit or license-ability will be critical.

I've had to pay for some insurance premiums and some late penalties on property taxes but i can say, I've never been successfully sued in 15 years, because our process is well documented and its not a pattern or pervasive or malicious in intent (Some elements needed to sue in my opinion) if we make a mistake and, I've always made the borrower whole.

Investing with foreknowledge that property values are falling seems like a timing problem or at least a situation where my offer would be reduced to reflect this coming change.As to how much to put in as a down payment that depends more on your numbers, your risk tolerance, ability to get financing, cost of financing, etc. 

So creditors have included debt, all debt, as a strike against one’s credit, limiting one’s ability to dig themselves into a debt grave, and yes to obtain another large loan, like a mortgage.

I'm confident in my ability to turn over tenants and deal with issues.