They're just starting up but have a ton of momentum and great backgrounds. 

Although this is technically one single property, for tax reporting purposes, we will treat them as though they are two totally separate assets because they have experienced different use in their history.

I've not heard of Investor's Edge, but definitely look at the backgrounds (resumes/Linked In profiles) of the principals to see what they did in the past. 

Anyone who is interested in investing in a syndication will ask about your background, and if you cannot show them that you have a track record of meeting/exceeding return projections, they will likely pass.

If someone applies, how would you suggest that we run credit and criminal background checks on them so I can see if they are someone I would like to run credit on? 

The background: My husband is a professional homebuilder and we'd like to have more flexibility (we have several very young children) in his workday. 

I don't charge an application fee but I do have the tenant pay for their background check. 

I've been around for over 30 years and I have a formal credit background from 2 of the largest banks in the world.

- I use an online credit/eviction/criminal background check service, should I expect them to be able to fill out and pay via the online service?

Be sure to run a thorough background check!