You could ask that they put a year or so of savings into a separate account on which you have view access or receive a monthly statement so you can see they have the ability to pay future rent.They aren't going to last without other income or savings with income at 1.25x rent.

Both strategies offer valuable lessons, but the last thing you want is for a beginner to overleverage themselves and take on more than they can handle.

We currently owe about 140k and it was appraised last year at 250k.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

On average, U.S. companies last only ten years.

Quote from @Jake Baker: @Andrew Syrios I looked at my last five flips to calculate the rehab cost overrun; the average was 15%.

@Drew Sygit, Last November Fannie Mae began accepting 5% down payments for owner-occupied 2-, 3-, and 4-unit homes.

I would call them and send certified letter signature required or if nearby drive to their last known address.

RE meetups that have helped me are very specific to San Francisco Bay Area market (sales and median rents in the last year and last quarter) so I'd recommend finding a meet up or session that might address your local market and if that's a viable option for you to invest in. 

Hey Justin, I'm curious what resources you found and how you've been educating yourself in the last few months??