While you can have a checklist of income, credit score, criminal background, landlord reference, etc, to me the bigger tell of good versus less than good tenants came from all the interactions prior to leasing.  

Quote from @Albert Bui: The "real life," cashflow for me has been a decade + journey especially when you're referring to consistent predictable cashflow spanning an accumulation of purchases of apartment units. 

-----------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Other's are cautious to share their resources so they dont burn bridges if things go south with a referred investor.

Require co-signers (like their parents), check references from previous landlords or college housing, verify enrollment status, and personal interviews to gauge responsibility.6.

Because we want you to make the promised paper return and we want you to buy more and refer us to others.I don't see this happening when you buy a property through Roofstock.3rd party property managers are known to nickel and dime so they can survive (It's a thank less industry and the 10% from the monthly collected rent is chump change really).And the sellers off loading the product through a "sales channel" per se. 

Greg If you are referring to hare money that is not what I used. 80% was financed through the bank and 10% debt held by the seller. 

As this approach uses very little documentation, it is the least reliable methodology in preparing a cost segregation study.To see all of the steps included within each method, refer to Chapter 3 of the IRS Cost Segregation Audit Techniques Guide.What methodology has your company utilized?

I like the location and the price is 650kHey Max, you are referring to the old Gem building.

To give you something as a reference based on your budget (30-40% down with $1.8M), the general cap rates you will see in the Bay Area are roughly 3-5% https://www.loopnet.com/Listing/1047-Rich-Ave-Mountain-View-...https://www.loopnet.com/Listing/1180-Saranap-Ave-Walnut-Cree...You will find higher cap rates and more 20+ units buildings in SF, Oakland, and Richmond, but keep in mind of their stringent tenant laws.