Otherwise you will be gambling. 

For me anyone with a fico below 560 is probably a life long deadbeat, and anyone with no credit file, probably is also a dead beat, but they could have no credit for many reasons other than their lack of credit worthiness, so I assign 25 gamble points to the no credit renter and treat them as equivalent to a 585 fico.

That said, in many circumstances it might help. it's a gamble at best imoI also assume this is for a retail primary home, if it's for an investment house then I really hate this idea.

So I am back to immerse myself in the world of real estate investing, meet new people and make our lives and hopefully those we come in contact with better. 

I gambled on the cheap solution and lost.

Don't get too immersed into one track (aka 'stuck' here) and you may want to consider not framing things like this: "I asked him if he would be interested in assigning me a contract as a newbie investor and he said yes".There may be a legitimate value-add provided yet you need to go into a relationship knowing what you are seeking and knowing what the other person is able to deliver.

If I give a free month as incentive I am guaranteed the lose of $3500, if I take the gamble and not collect the deposit, I’m hedging my bet that the tenant wont trash the place, and therefore less likely to lose $3500 bucks. 

I like immersing myself into new opportunities and I dedicate myself to achieving my goals.  

I took the gamble and got it 101k and made it work for me.

I much perfer to be conservative rather than gamble.