If their income is a little weak but they have offsetting factors, like ample savings, then I require all upfront.

My execution was probably weak at best, but like @Wayne Brooks  mentioned the strategy of spamming out offers to 90 DOM (or other) reeks of wholesaler.

I'm not sure 1% rents are enough to allow you to buy indefinitely before your W2 financials are too weak to support the debt.It sounds like you're essentially trying to flip houses to yourself and refinance out your cash position to rinse and repeat. 

You should have a realtor or appraiser pull some comps, as I think your equity position may be a bit weak if the house is only worth 300-330, but if you are holding it and you can get the rents you think this is a good deal, move forward!

A pre-qualifiation letter is really weak.

I think it all comes down to assessing your strengths & weaknesses--and being honest about them.  

In the future you will be adding employees to your team and those who are strong in your weaknesses will add tremendous value.

A lot of the value you provide will be your ability to organize the chronically disorganized.Priorities: In the case of realtors, for instance.

This covers our risk and also clarifies the terms for all the parties involved.We establish a base rate for the security deposit and may increase it to cover our risk if we offer to rent to someone with a weakness in rental/housing history, credit history, income/employment history, or legal history.

I decided this year to reinstate my CA license after my daughter was diagnosed with a rare chronic illness.