We only require a soft credit check as well. 

They don't ask for any documents just do a credit check and you fill out their application.

My first property was tough, (credit not in place was a challenge - luckily, got some help on this!) 

Bank Credit Line How did you add value to the deal?

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.

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.

Once we changed to charging a fee, proof of ability to close, good income, a sizable reserve and reasonable credit, the students not only started taking the training seriously but actually began buying properties for their retirement.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If Don fails to pay, the bank will certainly go after me, it will at least ruin my credit and will likely take me to court.