**Affordability and Quality**: The combination of an affordable purchase price and property quality was appealing.2.

We’re one of the few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must = 3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedCredit HistoryMany companies use credit summaries, but we find these rarely tell the whole credit story.

The older house ends up being worth less than a newer house even though it appreciated OVERALL because the structure itself has depreciated over time.Unlike manufactured homes, single family homes are ALWAYS permanently attached to land making them part of the real estate - thus you rarely see single family homes depreciate.

If you are looking to scale quickly, combining both may help you do multiple flips/fix and holds since you won't be depleting your HELOC each time you close on a property.

Those who post otherwise rarely know what they are talking about.

Really helped to clarify how unequal this partnership would be.The reason for the partnership is that we are trying to combine finances, since neither of us have a lot.

That is rarely worth it for a first time investor. 

Not a good idea for some of the same reasons-high costs of purchase combined with inexperience and renos gone bad/out of control. 

While I occasionally have a tenant complain about being in the downstairs units, it is rare. 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.