I am in California and I usually ask the investor to apply a 10% of the equity itself and we see deals that bring in $15,000-$25,000.

It isn't just Mike who has lousy applicants, and it doesn't have all that much to do with lower income rentals.I have very nice houses in a ski resort town, and the people who apply to rent from me are absolutely frightening.Deadbeats don't care how much the rent is, because they don't intend to pay the rent, anyway.

Application: Any person able to meet the cash investment, the mortgage payments, and credit requirements can apply.

Willard had some great prices on property last I check and it's only about 20 minutes out of Springfield.Ok....if you want any sort of training, read Robert Shemin's Secrets of a Millionaire Investor and Secrets of a Millionaire Landlord and apply a lot of it to cheap Springfield houses.

Many times the leas option rental price is higher and they will apply that extra towards the purchase price when the option is up.

In other words, ALL of my "normal" criteria applied to those applicants.

Read one real estate book, learn something and apply it in my daily action items. 5.

Your withdrawal of up to $10,000 (lifetime limit) is applied to a first-time home purchase.

Only issue I have heard of is when you apply for your next "primary residence" mortgage.

Any time after that other terms can apply that would.