Your background might be useful in managing others and help you get rehab/repairs done.  

PS: I send a copy of the lease to them as well as a house information sheet when I approve their application, before they pay for and submit to the credit and background check.

I have application with clean background checks and credit score of around 680Income to rent ratio is 2.5.I have asked for a consigner.However I am wondering if There are any other options worth pursuing to mitigate the risk - such as ask for 3 months rent as deposit instead of one month ?

I have recently moved from northern to central Indiana (Hamilton County).My only real estate background is the house I owned in my home town. 

Cory Baker wow thank you for all the background info because it really shows what you have to do in this industry.

Welcome.We have similar backgrounds leading us to REI in terms of construction and commercial real estate.Out of curiosity - are you looking more for strip mall type properties or mid rise properties?

I suggest you make sure they are qualified (income, background, etc.) and set them up with a credit repair agency so they can purchase the home before the option expires.

I'm an engineer with a background in finance.Would be great to meet a mentor that could lead me in the right direction so I can get started on the right foot.My goal is buy and hold for rental income--build a portfolio.

My background as a lawyer will help with the contract side of things.  

.- We hustled Shawn for a lunch meet / brain picking session :) very busy man so my deepest appreciation to him (I give him credit to get my gears turning)- Subscribed to BP - Still new to the site but we are so amazed of the tons of info, resources and amazing people to learn from that even for someone with a real estate back ground, I’m learning new things everyday.