Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

This decision turned out to be a tough learning experience due to the location and condition of the property.

I’m back now and looking for some guidance on an idea that caught my attention.An old high school friend of mine has been buying older houses, either renovating or tearing them down and rebuilding, depending on their condition.

I found a house that needed work, but was also over priced by a tad for the condition.

Some buyers might see this as a bonus, while others may worry about tenant turnover or stigma, so it can affect the price slightly.Sell when the building’s cash flow no longer meets your goals, market conditions are strong, or you’re ready to reinvest into something else.

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.

The operator is taking all of the risk in purchasing and rehabbing the property, handing it off to you fully rented and hopefully in good condition where there are little to no maintenance expenses at the beginning. 

@Nicholas Nakamurain order to be successful, you will need to build a network on the ground in Ohio with people you know and trust. buying a random property on the MLS in unknown condition based on other people looking at it, and putting it under management with people you have never met, will not work, and you will lose money.https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...so - what's your plan? 

You left without notice, you abandoned the property and left it in a condition which required repair and we notified you of this and you refused to come walk the property with us. 

Look at their rental history, the conditions of their previous residence, and ensure they have a good track record with past landlords.