Then I give the tenant 60 days to catch up on back rent. 

If you set standards and stick with them, you'll catch shenanigans like this.The policy should be that every adult passes your screening, period.

@Jason Foster Catching up here - but I am very interested in working with Oxford House within South Florida.

Everything seemed great, but there was one big catch…The catch was that, despite bringing in dozens of leads from that keyword, IT SIMPLY DID NOT CONVERT TO CONTRACTS.Why?

If the market slows down even just a little...catches a tiny little cold...you will lose all your money and the lender will likely take a loss also.I ran a distressed debt fund for 5 years, DO Income Fund, and we had hard limits when buying distressed debt.

And these gurus have nothing to lose other than being suspended or "cancelled" if enough people catch on. 

One catch is you have to be on a rental agreement or lease to use the 75% income option. 

Mark Zinman has been a steadfast resource/volunteer for AZREIA for years for LL-Tenant Law related situations.You can also try Jim Whitehill as a catch-all for RE needs; I've seen his name come up a lot in local Realtor forums when folks ask for attorney referrals. (520) 214-8779

Have contractors coordinate directly with tenant on repairs and do a few trips a year to catch all the loose ends.  

They have millions of slaves and indentured servants who make our I-phone 16's, and almost everything Americans buy at Wal-Mart and Costco, but still their stocks can't catch a sustained BID.