I went in 50/50 with my father on a duplex, and we put that into an LLC, but mostly to put our ownership rights/responsibilities to paper - I was uncomfortable with the partnership business form.

So far on paper with me doing most of the work with a few "swinging hammers" I could get nice return.

They will not accept funds from an unknown third party unless you a have paper trail from the items I noted above.

They are self-employed, so I would require them to give me copies of last two tax returns, plus a 4506T form grabbed from the IRS website to verify the accuracy of the paper copies that they present.

I'm going to try that tonight, on this current prospect.I haven't been printing out stacks of contracts when I show the house, I just handed out a slip of paper with the link to my website, where they could download the file, fill it out, and email it back to me.

I think if you do your intial homework and dont just throw blind offers at everything but pick a select few that work on paper first this would be a good solution saving you as well as your realtor time.

I have the tenants fill out a standard paper application first.

Question: Does the mortgage co. present a paper with the amount owed to us?

Would it make a difference in the rental papers be put in the old homeowners son's name?

The doom and gloom stories sell papers but do not accurately reflect the market.