This approach gives you access to better loan terms and makes the investment more feasible.In my market, the BRRRR strategy only works if you purchase an absolute steal from the seller—and deals like that are virtually nonexistent.

I hope you all don't think I was trying to steal or be immoral in any way :( That is never my intention!

To me that seems like a steal, for a few percentage points more that traditional prop mgmt, especially considering the premium rents you can collect.

Great advice Bruce, Im going to steal this for some of our new agents :)And again reach out anytime Reagan.

Then say you want to talk to that person, and find out if in fact they are OK with theft occuring but saying you have to have a contract saying they cannot steal from you before they will prosecute it. 

Crooks know properties advertised for rent are vacant and easy targets.Now, if your PMC decided to do self-showings, they should have also taken responsibility for any resulting damages.

Theft - No one is going to steal while you are there. 

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

But doing this we ran into a lot of crooks who once they realized they were not personally responsible for the debt just ripped rents and never paid on the underlying thereby totally fubaring the sellers..

Very few providers are actually internally sourcing all of their national real estate data—there is lots of copying and stealing.