In the meantime, they will pay regular market rent and I'll see how they do. 

With old houses, things break fairly regularly so if you don't have a good local team to fix things, you will either frequently overpay for repairs or get bare minimum fixes that don't last very long. 

At this point for all you know he may not even have another residence.Agree the 24 hours thing is kind of excessive.....Having ALL people that are living in the property screened and on the lease is protection for the landlord....if you want to take your chances, then that's your choiceDo you do regular inspections of the unit?

If the owner hasn't refinanced, I calculated that they'd likely still owe around $13000 on the loan if they had a 30 year mortgage and they made the regular payments each month.I started with the conventional financing route.

You could argue the the activity is not regular and continuous enough in order to be considered a trade or business, so it would be a capital gain.

Make sure you are getting regular reports. 

The old policy was better IMO for the regions, such as Lehigh Valley, that are further from the DIG main meeting - that old policy allowed those new to DIG to get a sample of the meetings they would be more likely to regularly attend.

Leave them in the accounts to build up cash or take regular disburements?

Regular, good, better, best.

I was using Credit Bureau Associates who have recently moved/consolidated with TenantAlert.Have the option of running, criminal background and identity fraud checks.Have the option of  paying for it myself or applicant to pay.I get the credit score, account types open, closed, payment history, status of accounts, balances, etc.