Quick background on how I got here.In 2009 my wife and I moved into our first home together .

The first few years are dominated mostly by interest so where is the equity coming from that allows the author to pull that much money out of refi?

My personal decision is to answer is should I first focus on cash flow through turnkey, then build a team to rehab and get that mighty 'Forced Equity' (trumpets sounding off in the background). 

We have yet to ask for a background check and credit check, because we only do that once we want to move forward with their application.

Other background includes holding a real estate license and working as a Associate Agent for Redfin, both for a short period.

As you know, we have a very thorough tenant screening and background check but we cannot predict the future of a tenant.

I've also listended to all but maybe eight of the BP podcasts and have a conceptual understanding of different strategies and options; my background is in financial analysis and corporate valuation. 

When running a screening report on tenants, I recommend doing a full background check, credit check, and eviction report on any applicant above the age of 18. 

His advice: never turn an appliacant down, just ask them for more clarifications, more documents, more background checks etc.

Lets start by stating that they have to be licensed, which is required by law including going through extensive background checks, be financially fit themselves, and go through education on laws and mortgage practice.