I asked them to fill out an application and WHOA... bad credit, lots of late payments, high credit card bills $9k, and she has a criminal record for child abuse, and neither of them provided any verifiable documentation of income. (!)

(Basically Section 8 doesn't want the tenant paying more than 40% of their adjusted income to housing expenses).And there's a whole bunch of other factors, like number of dependents, child care expenses, etc. that play into the formula.

I assure you that Child Protective Services has rules/laws to abide by.

Unlike other people, I had had an amazing amount of money, but I still drove a beat up Buick Roadmaster I paid $50 for and I wore the cheapest clothing I could buy and never changed my style clothing or hair when trends came and went.I will tell you why I made am amazing amount of money when I was a child and throughout my life.

Then you create two child LLCs underneath it per state you operate in.

@Daneca Hall, I would allow the tenant to have the adult daughter on the lease as an "occupant" the same as if they were an under-18 child.

Nice house, pretty color scheme.Have you considered running a grey railing down the middle of the steps extended to the wall with chicken wire or some other child resistant barrier under it.If it's cost, maybe iron pipe would work painted grey (???)

Most folks that try private lending in some form are poster childs for those that get separated from their money they have no clue.If you want to start to lend money hook up with a VERY good local HML and have them place your funds for you in first position.. that's the safest way to start in IMHO

As the uber-responsible child of a (now deceased) alcoholic,  it pains me to see people assuming the son will automatically  be bad news.  

The child is at fault, so you should charge the tenant.