Keep in mind - even with the PM you still have to pay the maintenance on top of their fee - and like I said - often it is over-priced.

If, however, there are any gaps at all in any of the above items, even a gap so small a mouse can squeeze through, that tenant will exploit it and your life just became a 7th Level of Dante's Inferno.....:)

If the seller isn't responsive, then do like the idea of telling the tenant you tried, and see if they can get some free legal assistance from a tenant resource center.It is a good reminder as closing approaches to ask the seller to keep tenants updated on the pending sale and when ownership is scheduled to change.

So we don't even have an approved inspection much less a lease with this potential tenant.

Sometimes it’s about finding the right partner who sees your vision. 

The connections you make can open doors, create opportunities, and even help shape the direction of your career.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

@Tyler Speelman Your strategy to assist your sibling with a down payment while minimizing tax liability is creative but comes with complexities.

You can't even look at it.

If not, you may not even be able to finance this on a conventional loan.