(It could be rented for more, maybe $3000/mo, but I'm only comfortable charging so much on principle.

I have witnessed many funds that started on sound principles compromise those principles when they couldn’t generate sufficient deal flow to be able to invest the capital that suddenly came into their lap. 

Quote from @Alan Mills: Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”This was a full interior/gut rehab and almost everything is brand new.

This is really an object of my hindrance to achieving my end.

I work with new investors all the time and have to get past newbie investor puberty which include Shiny Object Syndrome and  the mindset that this business is Quick Money with little to no effort (thanks to Social Media). 

When somebody asks for advice, I always try to put myself in their shoes and understand who they are and what their objectives are so I tried to do that with you with the little amount of info I could garner from your profile.

Here’s how you could approach this:Set Clear Criteria: Use objective criteria (e.g., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!

It’s crucial to consult a real estate attorney and tax advisor to structure the transfer in a way that minimizes tax consequences and aligns with your objectives.

We managed to bring the property down in price, overcome objections, and navigate the eviction battle, and in the end, it paid off.The key takeaway here is that if you’re a true cash buyer who can work with private lenders, you can survive long, drawn-out processes like this.

We have education in real estate principles, real estate law and real estate finance.