Can I, or should I, approve both applications and then see who signs the lease first?

Also, if you approve them, make sure she is on the lease, and signs any rules and regulations you have. 

So in most cases, I've found that very low bids are not an opportunity but a warning sign.   

I've owned and continue to own both, and there is no way someone can tell me with a straight face they spend less time getting a lender, giving them 80 documents, clarifying documents, talking to a seller, signing contracts, hiring a property manager (or managing yourself), bookkeeping, managing repairs, insurance and hoa setup, sending the lender more documents vs. vetting a sponsor and wiring money.I'm have very good luck with my rentals and I spend very little of my life on them, but that very little is STILL 5-10X what I spend on passive investments.One missed payment or eviction is added stress; you don't even hear about this as a passive investor.

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

I saw Vacasa rental signs everywhere.  

With a mortgage the borrower signs a Note and a mortgage creates a lien on the property to secure the debt which must be recorded in the public records to provide notice to third parties. 

As noted above, a cash deal with all capital liquid in an account today is going to be taken much more seriously than a financed deal or a syndicated deal.  10% EM hard at contract signing and a 45 day close with no extensions will be taken more seriously than 3% EM hard after 30 days, with a 60 day close and 2x 30 day extensions.  

See what the $19k was for first, it may have been neccessary, but still that does not make it ok for them to do it without a signed CO.You can ask an attorney a few questions using sites like Avvo or Rocket for not much $$$.

Right of recession:Buyer and Seller may rescind within 3 days of signing contract all all EM must be returned this is a blanket rescission.If Buyer or Seller never get the Disclosures and sign for them they can cancel right up until the day of closing with all EM returned. this should level the playing field keep bad actors at bey and give Buyers and Sellers some rights if they think they have been hood winked.