Its COLD data so i usually focus a few hours per week to that list.

I felt i had to tell my story to explain why i want even poor examples of extra protection and why i over always go overboard on Insurance, way more coverage than needed and hardly ever used .

Usually seasoning is 6-months or more (depending on the program) and the lender will want to see leased units. 

In Washington state right off the I 5 corridor .. my land partner got into contract for 65k ( infill lot that could handle a duplex or two units) put it on the MLS ( which is how you get top dollar) sold in 3 days multiple offers for 110k netted us 100k so 35k net profit .. which I have a formula to split with the acquisition partner. ( PS its always more to them than me) but bottom line if you can fill your pipeline its easily a low 6 figure to mid to high 6 figure when you have a capital partner like myself.. or someone else.. does take a fair amount of capital though usually 500k to 1 mil in cash to make that kind of money so thats where we come in.

I had a tenant tell me when I was considering it that he prefers a curved curtain rod because he is a big guy and needs the extra room.

@Alex Jacobs the more bedrooms the more potential income.DPA programs though, are usually limited to single unit homes.

If they qualify and submit a holding deposit and/or sign a lease within a certain amount of time (a week usually) and I haven't run the checks on the other applicants, I return their money.   

I'm usually coming out of pocket something but knowing what my BUY lender will lend me, 75%, tells me the other math in the equation.Hope all of that makes sense. 

Also the constant in and out of different families probably wears the property much faster than usual, there is much more liability with constantly changing  tenants, and many locals governments are creating ordinances against them.

This, plus the usual BS fees from the town, would cost me about $3500.