Should I follow through with background checks and credit score, waive the application, or something else?

Thus creating a monopoly that I don't know how to get out of.I've worked years in this industry from the PM-end and never seen anyone try to bill a percentage off the security deposit and, though a little digging is showing me it CAN be done, it seems like bad business.

Check with your local credit union.

@Nadir M. you would show 100% of whatever you collected on behalf of an owner.Of course, if tenant pays via credit card, you would NOT include the credit card fees, because you did not receive them.From the funds in your OPERATING account, you would pay any expenses on behalf of the owner, including your management fees - which you woul transfer to your PMC account.Owner will be paid from Operating account.Your vendors (office expenses, auto, etc) would be paid from your PMC account.Year end, you are require by IRS to send a 1099 with GROSS amount collected on behalf of owner.

He still got us a decent credit but the work we need to do to get renters is will cost much more than the credit.

While I know that return goals are different for each investor and their specific goals, it seems that a bad or low-performing deal for one person might be what another investor is looking for. 

How SB-423 Accelerates Coastal Development: // Faster Permitting ·For projects with 150 units or fewer: - Eligibility Review deadline: 60 days from submittal - Approval deadline, including Design Review: 90 days from submittal · For projects with more than 150 units: - Eligibility Review deadline: 90 days from submittal - Approval deadline, including Design Review: 180 days from submittal · No public hearings or environmental impact reports for qualifying projects // Smarter Development Rules · Excludes high-risk areas, like those prone to sea-level rise · Ensures projects meet affordability and public investment requirements // More Housing, Less Uncertainty · Projects stay approved if at least 50% of units are affordable and include public investment beyond tax credits · Opens up new opportunities in previously restricted areas · Clearer guidelines help developers plan with confidence

We're just clueless mid west investors not interested in buying bad deals. 

-The mention of syndication being less risky than HML...I'd suggest it is more risk, possibly much much more since you don't know whether you are good or bad at vetting the operator right now.

They can keep those loans off your credit reports, allowing you to maintain financial flexibility and freedom.