Bob then has a background agreement for proceeds?

Then you technically have nothing to lose and the banks wants to still see you have skin in the game.

In order to qualify for va loan on a multifamily, you must have 6 months cash reserves totaling your PITI, also must have prior experience managing rental units or other background including both property maintenance and rentals.

But I like the cleanliness of some of the programs with the convenience of online payments, work orders, background checks, leases, etc...  

I will be running a background check for some applicants for the first time and I was wondering what resources you use to do that?

I would like honest feedback.I know that FHA loans allow for gifts which I could most likely get from a friend/future partner, as a "handshake" and technically be without repayment listed on any sort of contract.

I listen to what they say, how they say it, and what they don't say .Applicant then text me their 1st middle last name and date of birth so I can do a local background check .After all of that is accomplished  then I contact them for an appointment.  

If you guys want to come out my way in Brooklyn, basically near Prospect Park, I would be happy to meet with you.If you read my posts and my background, you'll find I have 2 decades of Real Estate Investing history in Brooklyn.I currently own 7 multi-Family Investment properties, generally 3 and 4 Family buildings, in Bed-Stuy, Clinton Hill, Windsor Terrace, and Ditmas Park, with partners.The total Assets are worth over $15 Million.If my strategies are not necessarily aligned with yours, at worst you will walk away with an understanding on how to be a successful buy and hold Investor in a highly expensive and appreciating market like Brooklyn.You don't have to invest my way.

If I wanted to get good background knowledge about the ins and outs of investing what sources/courses would you suggest?

The property itself is in good condition; new roof 3 yrs ago, 3 phase elec, solid HVAC, 16ft drive thru, 2 roll ups, 2 docks. needs no current upgrades(technically, everything except roof, structure and parking lot is tenants responsibility).