Hi all,I currently use RentRedi and am trying to deal with the following situation:- I have a bunch of prequalifications and applications in my queue- I've accepted one tenant and filled the unitMy question is, "How should I mark the others down in the software that would have passed my screening standards?"

What I usually see is that they start with the average $/sq.ft of the sales price in the area.

@Steve Vaughan  when we went through the 08 to 2010 debacle and over 200 landlords handed me back their houses.. and lost ALL their money... it was an eye opener and they were all landlords all west coast based   a few on east coast.but they walked..  

The best thing you can do is plan that the first year will be on the lean side.

And, that people will, over the next 30 years grow very rich with New York real estate, the outliers growing 2-5 orders of magnitude more wealthy than their peers in the Midwest.     

If so, how was the experience ? 

Here's the problem - in order to be fully dialed in the model needs to be unstable.

@Steve Babiak, unless he registered with Pennsylvania as a contractor, he would not show up on there, the company as the OP stated is from NJ where he would be registered. he should be registered in PA if he is doing work there, so i agree, he should have shown up on those sites, i am a contractor in NJ but do not do work in PA, not even my own properties, so i do not show up on those sites.

Professional property managers stay updated on legal requirements through memberships in state or national organizations.

the cash flow you are referring to, are you attributing that to the $900 difference between the PITI and the gross rents?