You will need to provide a $5000 deposit for each property you wish to bid on. 

Hi Kevin,I have a couple of rentals in Fredericksburg and I allow pets (charging a pet deposit and monthly pet rent to cover damages and wear and tear).

You'd need to show the income on your tax returns and/or have a lease and first month's rent/security deposit for the unit you were living in.

Did you receive security deposits with interest and pro rata rent for the month at settlement?

Please consider this if you move forward.Additionally, you need to have a broker on payroll in illinois and three separate bank accounts with the security deposit trust account located in illinois.

So it is really looking more at bank deposits, but most mom and pop owners won't share bank statements.  

Tell them if they don't, you will take it out of their security deposit and they will have to replenish their deposit.

I do have 1 month of his security deposit but I am not sure the condition of the house.

Can you imagine taking a couple days off work, looking for a new place, paying for new applications, putting down deposits, renting a moving truck, finding friends to help you move, paying to clean your old place, and so on to “Save” $300/yr? 

In order to get the BLOC funds deposited for me to access they require me to send $10k for fees to an escrow account.