Thus, investing in the five boroughs is out for me.As an aside, on one of my property research expeditions in the Bronx, I remember as I was getting off the bus the bus driver stopped me.

I would have two concerns. 1) tenant doing work on unit is a liability ie screw driver slips and cuts their hand and they are out of work for a few days. 2) There will be a period of time when you don't have a key to your property.

Some things I've caught that are lies: - Owner information that's not the owner (just like you - this is the #1 thing) - Addresses that are not where they live or lived - Incorrect birth date - Incorrect driver's license number - Stating they've never had an eviction filed and see that they have had multiple evictions Remember that show "House"?

I never filled out any application, signed any lease and he only took a copy of my overseas drivers license.

Before you consider anyone, have them fill out an application, use an online service, always get the social security and drivers license # from the tenant.

We've built and rehabbed primary residences so we aren't that naive couple that doesn't know what a phillips screw driver is. 

Get a copy of his drivers license, social security card, paycheck, ect.  

I point out the driver, and he says "Damn, I never saw that one before" Now we start laughing and he bums a smoke from me.

My 1st deal - bought it for 17.5k, rehabbed it and sold it for 42K to a very nice retired truck driver and his daughter.

That's a driver of the value just as much as comps.