If the income requirements are met, credit looks good, and employment history ( at least 6 months +) at the same job, move forward with the applicant and request additional deposit.That's an old eviction IMO.I have a current tenant that I leased to with low 500 credit.

@Sean OvercrestThe transaction that you've proposed has several different tax implications: income tax, gift tax, estate tax, and yes, property tax. 

We are not focused on the passive income at this time as both working W2.Questions:1.

In Texas, there’s no state income tax on rental income, but LLCs have formation and annual fees.This post does not create a CPA-Client relationship.

My approach balances both—ensuring that my investments generate income while also appreciating in value over time.

The rental income from the first home will pay for the mortgage/monthly costs.  

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We’re currently using it for multi-family properties in a few core markets.While redIQ is a much more sophisticated tool that focuses on properties with over 50 units, our system is perfect for properties up to 50 units, providing an efficient solution for managing lead intake and financial analysis without the complexity of larger systems.Here’s how it works:Lead Intake & Processing: Automatically processes broker emails and key documents (OMs, Rent Rolls, T12s, etc.).Quick Review: Evaluates leads based on key metrics like IRR, price per unit, and more.Detailed Analysis: Extracts data from documents, evaluates financials, and identifies additional income sources.Market Research Integration: Automates checks on flood zones, demographics, school quality, etc.Deal Tracking: Uses Google Sheets to visually organize lead data—while not a full database system, it provides a simple and efficient way to store and track deals without the need for a full-fledged database like MongoDB.Financial Analysis: Built-in underwriting and financial modeling with automated reports.In addition to ZCG, I also own a portfolio of properties.

I've never heard of a lender that wouldn't count Section 8 payments as income.

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.