Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

, whether there's a high water table that encroaches on any underground utilities or foundations (and does that water table have significant seasonal water level variations), encroachments by roads or other improvements on your property, limitations imposed by easements or rights of way, etc.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Once I sell that I’m gonna convert to a fourplex and do the ADU.going through cash quickly and also using credit cards when possible like to purchase materials.

Ask for a line of credit.  

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

• Is this a better strategy than using your own name, capital and credit to start out?

Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully.

There are still people out there who only deal with cash, and are queasy about using credit or debit card to make purchases. 

@Michael Almand, for a full line-by-line breakdown and scope of work, my preferred contractor will charge about $250 to walk the property but will credit it back if he and his team are given the job.