Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

I wanted to clarify that $2m was the collective asking price.

What if they have collections or judgments?

The husband had a good paying job that had a slow season where he would collect unemployment a few months per year.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Some good resources here!

How do you collect and is worth the time, effort and expense?

what resources do you use most when sourcing furniture and/or renovation materials etc.?

Additionally, collecting the tenant’s portion of the rent (not covered by Section 8) can be difficult.3.

Operating is where you collect the rents and pay expenses.