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

For example, the “Home Sale Exclusion Gain” (IRS Section 121) lets you exclude up to $500,000 in profits if you are married filing jointly and $250,000 if you are single.The post originally appeared on the BiggerPockets blog.

They struggled to place a tenant @ $1900, and were hyper focused on high credit scores (>680) and income.Another had a 3 bed 2 bath more spacious home a bit more South, but still in Staley HS area.

Originally posted by @Andrew Hogan:Thank you @Russell Brazil.

These were originally built for students, but with population growth outpacing student numbers, they converted and are now thriving as traditional multi-family units.

Good morning, BiggerPockets Family.I recently submitted a Residental Purchase Agreement (RPA) with a pre-qual letter from my credit union and FICO scores.

The way a 1031 exchange works tax wise in the simplest fashion, is your initial basis in the original property you sell becomes your basis in the new property.

Our major focus has been developing two larger (for us 220/365 units) locations in a larger town and we haven't looked back at our original locations. 

I don’t have a credit card or score by the way.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.