It could also be a good way to lose a lot of money and destroy your relationship.Being handy isn't enough.

local banks generally wont finance anyone who does not live within 100 miles of the property.. for two reasons its in their business plan.. and two they know the risk is much higher of a default with out of area investors.. 

If you had asked up front, you could tell them they are welcome to apply, but they wont likely meet the income criteria if they couldnt document or actually make the 3x the rent.

You the the homeowner going to get destroyed when that special assement comes in and you don't have the funds for it or an unexpected repair is needed.

Destroy the burner.

My realtor, my painter, my lawyer, my plumber,...doesn't matter, they wont' work with people who don't pay them what they are worth.

Not trolling... just pointing out the shear stupidity of someone trying (or recommending) to tie up a $700k+ property facing foreclosure without the ability to close... all to maybe make a few bucks.When you fail (and at this price point, you will do so far more often than not) you will destroy the hopes of the homeowner and likely subject yourself to inquiry.Good luck with your wholesaling.

Tenantcloud does all the invoicing and rent collections so there wont be much else.

@Jonathan Bombaci hard money lender wont lend on a primary residence.

I saw that same post but how does that give the tenant enough time to get quotes and fix a problem that is, say, a bit serious, i.e. replacing hardwood floors that the tenant's dog destroyed or other issues that may require more than a 2 week time frame to address?