.- The management company offers a hands-off approach including coordinating and managing repairs, getting the property rent ready after a move out and placing a tenant from a pool of applicants that may be waiting for a property to be ready.

During the escrow/title process, you are finalizing loan documents, reviewing title documents (HOA disclosures if applicable, title reports, etc), obtaining homeowner's insurance, and preparing to wire your funds to title. 

The behavior is a bit off, but not surprising for a mom & pop landlord.We tell our residents exactly what we need from them for the application. 

When they realized that it was held in an LLC they denied my application.

Top line revenue - PM Fee (if applicable) - utilities - maintenance - misc costs of doing business.Good luck!

Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

And in a severe duty application like renting to section 8, you probably have to do that every 30 years.In other words, your portfolio carries a $1,320,000 future liability ($60k x 22), which equals about 22 years of present-day cash flow.

As always, this can be mitigated with proper screening of applicants by verifying rental history and contacting prior landlords about the prospective tenant's past.

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria. 

I suppose I'll just wait until I find a good applicant and be grateful I won't have a vacancy this time next year.