@Brandon G.Closing Costs typically consist of an escrow fee, pro-rated taxes, pro-rated utilities, pre-paid HOA (if applicable), pre-paid insurance, buyer's title policy, lender's title policy, recording fees, attorney fees (if any), and any loan costs.

The total from the buyer was 5481.62 in various fees and prepaids.

The $500 has to be pre paid on one tab so it really complicates things, im not sure we are ready to take on anything like that yet.

She said that there could be multiple months prepaid up front for security, and that she has an "excellent rental and work history" on which I presume she is comfortable sharing details.I would screen any guarantor the same way I would screen someone living in the unit, and I am thinking about a 6-month lease term with some level of prepayment, but not full prepayment to make eviction easier if things went bad.What do you think? 

I did have a friend that did get a year prepaid once and that worked out so you never know until they meet in person.

I always suggest to my clients to get pre-qualified by both.You can ask up to 4% of closing costs, prepaids, and reserves be covered by the seller.

The Minimum Required Funds (“MRF”) are funds you must have available to pay costs associated with the purchase of the property, pre-paid expenses at closing and a reserve for costs once you close.

If you pre-paid, then that may be another story.After all of my years in the business, I don't have a good eviction attorney yet. 

Whether investors are pooled or you only need one investor is not a talking point of Reg D.Thanks Dion.And I read the exact question to a Prepaid/Legal Shield attorney before posting the question here, and the attorney said yes that would be an okay way to structure it.

If I can get a refi with the same deal that lowers my payment to somewhere in the neighborhood of 1300, (and not much more than the origination fee + prepaids for closing) then I'd consider renting it out as an option.