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.

While those with a small amount of mortgages are exempt from many servicing requirements, you are not exempt from all collection requirements, giving a proper accounting, notices, tax reports, late payment notices and collection matters.

However, after collecting more information from PHA they stated I should aim to rent the unit at what other units nearby are renting out for and NOT go as high as the SAFMR states you are allowed to go.

I'm screening applicants for my rental. Actually I have had two applicants so far with great credit scores but couldn't provide bank statement showing rent payment history. I went by the addresses showing on credit re...

A little late to the gratitude fest, but like @Kerry Baird above, I am genuinely grateful for the old timers here and the new voices as the collective wisdom of this group is something I tap into regularly.

Because the cost of roofs, ac units, water heaters and so on don’t care if you collect $600/mo in rent or $3,000/mo.  

I just picked a Luxe collection medium queen and it is $1899.

Proof this method does work.  

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.

The goal is to start getting your land-lording processes into place--how will you advertise, how will you screen, how will you collect rent, how will you deal with maintenance, who are you going to use as a lender, what is your process for bookkeeping and taxes.