You don't want them to just be financially qualified but you failed to investigate how they treated their past two apartments. 

If they fail to comply, you may need to involve legal counsel or contact your state’s real estate commission.Hire a Reliable Manager: Finding a professional, responsive property manager is key.

One thing to be aware of, and I hope that this never happens to any of you guys, is my connected bank link somehow failed or became disconnected?

If STR, what about MTR, or LTR as a fail safe?

Since leveraging this tax strategy could save you significantly on taxes if you do qualify you might want to seek personalized advice, that's tough to get in a public forum, to avoid missing out or getting audited and failing audit. ...

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

If you think we failed in this, then please contact me for I'd love for us to talk and see how we can make things right.I appreciate you all for commenting and we'll keep providing you with content and services to help you achieve financial freedom.To Your Success,Juan Pablo.

;(- if as-is value is less then the balance on the mortgage + arears OOOPS you need to have the owner work with the bank, you as the investor buyer AND a short sales expert often an agent work the tedious and usually failing short sale process. 

Almost every partnership fails and many end like a bad divorce.

The court seemingly implied that they could but simply failed to do so.At this point, without a more thorough research, I tend to conclude that the IRS excluded H/W LLCs from the QJV treatment arbitrarily, without statutory support.