Becoming delinquent on month 2 of your lease is not good.I would recommend being more diligent when screening tenants.

Those are the 2 avenues of research you need to do as your due diligence. 

And I agree, an investor that does zero diligence, doesn't value capital, and wants to find a structure that's RE related but not REITs, the debt behind it, syndications, etc.

Nothing points to this better than claiming the property cash flows $1,000/m relying on rent collection and debt service/taxes/insurance while responding to my question about other operating expenses/reserves with:  "repairs will come and we will fix, but that's why we do our due diligence before we buy so we aren't walking into major repairs".  

I'm based in WI and there are several people from NY investing here, some successful and some not---the common thread I see from the ones that are not is that they relied on someone else for information instead of investigating, VERIFYING and doing their own due diligence. 

A good sponsor is someone you can trust, that does good due diligence, is fair to both sides, etc.... 

Just make sure you do your due diligence as not every lender who closes a DSCR (individual or LLC) loan will avoid reporting to personal credit.

Trying to balance proper due diligence against my desire to just acquire a bunch of mediocre units!  

The risk is not including due diligence caveats in your offer, like inspections.   

How did you do your due diligence on him before he moved in?