Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

As an investor, you'll need to wait until this period expires before your offer will be considered.Additionally, Freddie Mac may require proof of funds or a pre-approval letter with your offer, and they often prefer cash offers or conventional financing.

Get copies of the lease and proof that they are paying on time and yes get an estoppel certificate. 

We only need 12 months of housing history and proof of rent payments.The DSCR market has evolved a great deal over the past couple of years, which has opened up access to more investors. 

Also, if you have cash to complete the purchase, you can get preapproved and then make an offer with proof of funds and without a financing contingency with a standard 30 days to close.

Over the next 3 - 5 years I plan to 1031 exchange all of our single family homes and purchase another 40 that won’t have mortgages (we use the lease option model to sell our properties to maximize profits so we cycle through properties every 3-5 years).

I am out of state and have to use a property manager which is another expense.Also hoping that since 2023,2024 travel has softened the cycle will reverse in 2025.

Obtaining valid ID and proof of income isn’t hard; for buyer prospects, swap proof of income for a pre-approval letter and/or proof of funds.

There are good deals available during all markets cycles so you’ll just have to work hard to find a good one.

I figure the upside to the rental scenario is, of course, investing in multiple properties, while a downside would be having to most likely get a conventional loan on the second house with 20+% down and proof of sufficient enough financial reserves to handle two mortgages.