@Phillip Austin we've looked into these and it's our opinion they should only be used with Class A tenants, maybe Class B - deifinitely NOT Class C or D tenants.Several companies in this area will no longer allow S8 leases or tenants under 600 credit scores - because of the high number of claims & corresponding claim amounts.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

It only happened once, so you have no evidence that this is anything but an honest mistake that's been corrected.The bigger concern is the 583 credit score, because it shows a pattern of financial mismanagement.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

On the north side, my credit score requirement is 680 and I strictly require their monthly household income to be 3x the rent.

In general tenants with a credit score worth preserving pay all that is owed.

makes sense. so i actually did a 2-1 buydown FHA, i have a 800 credit score and locked in a 5.875% in today's market which is pretty damn good IMO... so the first year ill be at a 3.875% with about a $2350 monthly payment including prop tax/pmi/morg insurance/home owners insurance. lease is locked in for a year at $1400 a month which makes me only have to pocket roughly $1000. the way i see it, its cheaper than rent or mortgages in today's world!...

Count on the rate to be at least 1% higher than where you'd be for a primary residence, and to maybe even cost a little in points depending on the program, your credit scores, etc.Happy to help you think on this more if you want to setup a call.

.- get into real estate with a lower rate and lesser percentage down payment.

It allows tenants to increase their credit scores by an average of 60 points, and I provide it free of charge.I have over 600 adult tenants.