You wouldn't consider "due diligence" to be just asking the sales person a bunch of questions.

Give a person a chance first before you go and quickly turn them down without second thought.

They are both college students who also work.Person A is 20 years old, has a FICO score in low 600s, no rental history, has been at retail job for six months.Person B: I haven't run his application yet but he seems more solid than Person A (he has 2 years of rental history, more work history). 21 y.o.Combined, they make $100 more than my minimum income requirement for this rental.

Is it possible that DoL would construe this as "furnishing of goods, services, or facilities between a plan and a disqualified person" - a prohibited transaction under 4975(c)(1)(c)?

I agree with the previous comment about the negative persona that most people have of the REI community (especially rehabbers).

I have 4 questions, dealing with two people, Person "A" and Person "B"1) How much property-level landlord insurance should one get, assuming: The properties in question are all value of ~$250K average with 20% equity (~$50K equity value).

Although it is possible that the (former) owner didn't know about the foreclosure, the odds are pretty steep that he is lying to you.While most of us investors might continue to hope and wish that "notice of foreclosure" means the date of the lis pendens or "notice of default", the feds and state case law have gone on to define it, for the purposes of this law, as:"The date of a “notice of foreclosure” is defined as the date on which complete title to a property is transferred to a successor entity or a person as a result of a court order or pursuant to provisions in a mortgage, deed of trust, or security deed."

He had been evicted twice and had 3 full pages of criminal history including receiving stolen property, theft, domestic violence, etc, etc, etc.Obviously, I wouldn't accept this person as a tenant.

I initially wanted to focus on short sales by purchasing the property and selling to another person as many people are doing elsewhere.

Is the person a salesperson "what you need just happens to be what I'm selling..."