To me, as long as you are getting their FICO score (Not the Vantage score b/s that they are promoting), criminal and eviction history, you are pretty much set.

Having strong tenant screening practices in place helps - my manager charges $40 per credit check and doesn't make much off it, but checks court records, criminal records, credit, and so on.

Elvia, the last time this came up for us in Bolingbrook, the village reported that theyhave adopted the 2006 International Property Maintenance Code guidelines on this, it boils down to 70 sq. ft. of bedroom space per occupant.

@Isaac ChunEasy - one him through truthfinder.com, if there is anything remotely criminal - it will find it.

to a land trust for estate planning purpose (which should not trigger the DOS clause, and even if so, you can transfer it back in your name if the lender gives you grief) with the beneficiary an LLC, thus getting protection from "internal" and "external" problems.

If you can get a family member to help you out, you may want to consider keeping this internally.

if you can think it up in your head a tenant will do it.. from funny to sad to criminal behavior..

CPAs and/or CPA software default to putting 365 in there no matter the reality, so you have to micromanage this.We spend a lot of time internally going over income calculations, and we do this for a living, so a full and complete answer is beyond the scope of one post.

My guess is that it's a bank owned home and it's just sitting there. 6 years without becoming a REO is a pretty long time so maybe something weird is going on internally with the new owner.

You can work for investors for free or intern or something.