No police report was filed and it didn’t happen on our property; and apparently this happened weeks ago although it’s the first time it was brought to our attention. 

You would need to send him a 1099_INT and he’d have to report the interest as income.  

The amount on the letter was higher than the sales price of the house. 2 days before closing (within the 25 days of backing out incase of financing not being approved) the buyers agent came back and canceled the contract, and provided a letter from the lender which stated 2 reasons for financing falling apart. 1) Insufficient income for amount of credit requested2) Excessive obligations in relation to incomeThe buyers agent also told my agent that apparently the buyers had purchased a car 3 months before they went in for qualification and the lender didn't find that account in their credit report and thus provided the pre-qual letter. 

I am looking for information re screening applicants as it applies to the Fair Credit Reporting Act. 

For newspaper select The Record Reporter.

View report*This link comes directly from our calculators, based on information input by the member who posted.A REIA associate wants to sell me this property.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Your resident manager is either a blessing or a total curse in this scenario...............if he/she is inherited you might just arbitrarily have to put someone new in that spot-the temptation is pretty strong from how I imagine rents are being collected and reported. 

The reports are 40-90 pages long and go through the entire house in great detail.Get an appraisal.

For example, if you read the annual report of American Homes 4 Rent, the largest single family public REIT in the country, you will notice in the management discussion and analysis section that they mention they don't reach scale until they own hundreds or even thousands of units in one given city.