@Calvin Rappard I don't think it is feasible to do a new screening every year, and more importantly, I am not sure you have the tools to move someone out if they fail....

I would like to learn more about seller financing, I see a lot of information on the internet about seller financing but honestly I am just confused.

You may need to guide or provide these types of photos as things you want your professional photographer to succeed. 1.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

These clauses are contained, in all Promissory Notes nowadays.Many Realtors and/ or Mortgage Brokers will not tell you this information.

Here's a detailed guide on how to screen applicants: Application Screening Guide 

Most of the information is out there for free. 

Do you check Landlord references?

I recommend two accounts: checking and savings.

Her Facebook page seems to bear this out.