These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants.

I have a rental property that I am rehabbing to put it on the market to rent.

Purchase price: $280,000 Cash invested: $7,000 Light rehab, rent, and 30 month balloon to refinance.

You still need to address their role in this situation directly or it will happen again as managing repairs is a core part of the PM role.

A lot of investors have great success when they start with a deal that has lighter value-add potential and use that deal to learn how to operate a rehab.

Additionally, I wanted an easy investment since I felt like I was not ready to take on the rehab portion.

@Jacob BremerA high ARV rental property can be funded using a HELOC strategy, which can be used for down payment, rehab, or cash.

He does excellent rehabs and stays in constant communication and explains everything in full.

You can use a card reader on the coin-op feature to address that, but you are into micro-issues at that point that I wouldn't want to deal with.A proposal: Tenants, installing separately metered water and electric lines that I pay for, then bill you for, will cost me $5,000 (or whatever).

After reviewing the cost to rehab and the area of town, I decided to Wholesale for a quick profit.Sold it on a Real Estate Contract (Owner Financing) with $100k down, the balance is financed at 10% for 13 months, then the loan is called.