You've clearly been in the industry longer than I have so it'd be great if I could ask questions and bounce ideas off of you.

> With a HELOC I would whip out my check book and write a $50,000 check in less than 5 minutesSure, unless your check gets bounced because your HELOC credit line got downgraded or suspended.

I would be very careful on your holds in areas that were hit the hardest and have not bounced back.

I had never thought about that but it does make since not to give the keys unless you know you have the money not a check that could bounce. 

They gave you a check that bounced , take that check to the courthouse and file criminal charges .  

Problem is, if they bounce one, it takes about 3 days before you know that an ACH has bounced.Had a tenant I really liked who bounced about 1 out of 3 payments.

If it's cash accounting, do exactly that, get everyone to pay in cash, and bank it in January.I would not take checks and hold them for 30 days unless you like bounced checks and pissing people off.

If the check bounces then it is an automatic disqualification.  

Whoever moved it obviously did not worry about doing it correctly@Alex Franks I understand where you are coming from but the idea that is bouncing around in my head is that the folks that couldn't normally afford to rent a 3/2 with a two stall garage and large lot on the edge of town would love to rent this for $150 or so below market rent.

He wrote me a check for some furniture I was selling at my garage sale, and the check bounced.