I would be cautious chasing the 1% rule, a lot of the time it puts you into less desirable neighborhoods or into properties that haven't been completely renovated.

A BRRRR could maximize returns by recycling capital, but it requires solid execution.

Can they get pre-approved for a conventional loan and then switch to FHA once the 91-day requirement is met?

We have one other mobile home park and this property will determine my desire to buy more or sell.

This 2 to 1 ratio is required because 1) they are work and my time deserves to be highly compensated. 2) big rehabs have some risk.

Does your local jurisdiction require you to return those fees if they were not screened? 

Since your lender requires prior experience building and selling/refinancing a single-family residence (SFR) on your own property, you may need to adjust your approach.

Give them a short, professional notice and move on.Second, I don't think a specific form is required in Massachusetts.

If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.