He/She may have to use a RMLO to draft this new paper to be dodd frank compliant... 

If they are family, and they meet your opening standards, you would be wise to communicate with them what the next step would be; rejecting someone on paper for no apparent reason could leave you open to a discrimination claim.

The problem is that our primary residence is in my name and I don't make enough working part time as a nurse to cover our primary residence mortgage and do a second home mortgage on paper.

The only thing is my regular job as a nurse I don't make enough to cover the cost of our primary residence mortgage and the second home mortage on paper.

He was saying something about putting it in the local paper and wait for a response from missing heirs?

Almost half of my portfolio has Section 8 tenants in it and as non section 8 people move out i try to move in more Section 8 tenants but i make sure my property manager screens them THOROUGHLY....not with just what's on paper regarding credit report, income and past criminal activity (If any).....I make sure my PM screens to make sure they have no pets, no evictions, no smoking OF ANY KIND and no felonies and we still get TONS of people calling...the biggest problem becomes picking someone from who is left.   

And yes I have found that in just about any of the hot markets at the moment they seem to cash flow well on paper, but maybe are tending towards the sketchier parts of town. 

If it's a rusty POS with matrial piled to the roof of the van and a ream of paper on the dashboard with old mc donalds wrappers.

Sure it doesn't look as good on paper but looks like you are quickly finding out that there are serious trade offs as you go down in asset quality.

Do the papers the bank signed with us mean anything?