See the illustration below.On the right is the order in which most tenants select rental properties.

You need to illustrate the value of the home by highlighting what is newer and what has been upgrade/fixed/replaced to increase the value of the home.

To sort of illustrate the disparity the versions can have too, my Transuion Auto Version 10 comes in at 853 (Auto Version 10 goes to 900), 850 Experian Version 10 (which goes to 850)  all the way down to a low of 737 on my Experian Version 3. 

The show gives a 'potential' profit but never actually gives a bottom line net number, which many times I look and say they really didn't make any money.I think as illustrated above in the watercooler conversations.

There's even illustrations and videos for free.

The best illustration for this is that plaintiff will not get access to your personal residence if the assets of the rental are not sufficient to satisfy the claim from the lawsuit.Set your LLC in the state where your property is located for best advantage/protection and to maintain the corporate veil. 

This does goes to illustrate my point I've made to several RE neophytes in the Portland area:  MLS listed duplexs are probably the worst investment you can currently pursue in our market as every half backed and un-knowledgeable aspiring RE investor is determined to buy a duplex,  driving the prices way above normal market. 

Let me illustrate with an example.One property I looked at is 105k.  

That last paragraph may be off topic, but to me it illustrates the murkiness of the ethics card the banks are playing.

What ever he is comfortable with but illustrates that the money is pledged to the transaction with no further underwriting.Additionally, do not sign the note in advance...you don't have the money yet silly.Then manner in which you approached the paperwork is a little out of the ordinary and that might just have the agents and bank scratching their heads.