People who hold large sums of cash outside the bank generally do so for the purpose of tax evasion.

So, your applicant is engaged in tax evasion and has an eviction. 

If he is evasive or untruthful about that, then I would walk away. 

Tax evasion?  

Structuring a workaround would likely be considered tax evasion.

Note that most "good" title companies won't budge on item 1 because it's arguably tax evasion. 

But when two related parties (for example, parent and child) do a real estate transaction, the IRS takes a close look at the price to make sure there is no tax evasion going on (for example, a reduced capital gain for the parent from the sale of the family home to the child).

You could probably pick some of them up at some good prices.I just read about a guy in my state that is getting hammered with tax evasion, trying to move the properties around between multiple entities to keep the IRS and the banks from getting at them.

I just had a freakish weekend showing a house--the first applicant was a very attractive woman who worked for a cosmetic Surgery clinic -- she had obviously taken advantage of the employee discount--she had a very nice look and way about her- & her children were nice too--she was evasive about her credit -she said it wasn't "too good"----upon getting the screening back,the records showed she had undisclosed bankruptcy, recent eviction--she said that was her sister's eviction-- it was" just in her name", the LL name she gave me was not the property owner listed on the county records--"she said that was because of a divorce and he was hiding from his wife", the child support financial records to support her income I asked her to provide "couldn't be faxed because something was wrong with the fax machine at the clinic", and she had 30 recent collections as well as 4 new court judgements-- these were" just loans and things, so how does that affect me renting your house?"

The first one is tax evasion.