Clean the place up, then rent it at market rate to tenants that know how to maintain a home.Any time you have a lease violation, you should follow a simple process.

You can also do a cash out refi with a DSCR (I'm in the process of doing that now) and reclaim some of your capital (75% LTV is what I have). 

I’m aware that the process of getting a conventional or a FHA loan is a bit more strenuous as a 1099 and wanted to know the best course of action I should take as I’m trying to purchase a small fixer upper multi-family investment property hopefully by 2026.

My question is, is the process the same when the owner of record is the foreclosing bank?

I have downloaded all of the other forms mentioned in the book Managing Rental Properties but can't locate the flow chart poster for the tenant screening process.

Hey any investors who use seller financing who wants stay in compliance with the safe act and Dodd Frank Have you hired a rmlo and how was the process? 

Here are some thoughts on your questions:License Reciprocity: It’s great that Illinois offers reciprocity with Colorado, so getting licensed here should be a smoother process for you.

The return looks good, however, I heard someone said the redemption process is long and difficult to get their money back.

Happy to hop on a call and walk you through the process if you have questions. 

Also eviction fees, because that is NOT an easy or fun process to endure.I hope that helps!