Inbox me if you'd like to see it)I contact employers, current landlord & past landlords I make my decision based on all information collected and my qualification standards (Brandon Turner talks about Qualification Standards in "The book on Managing Rental Properties"It's good to have a standard practice of evaluating every applicant the exact same way, so I wouldn't say that you necessarily have to run a background check / income verification on every prospect, just make sure that if you don't, it's because something disqualified them before they made it to that point in your screening process.As for the adverse action letter...

He’s a lawyer that my former employer would use for our evictions.

Of course, you never have to choose just one strategy, and you don't have to stick exclusively to whatever strategy you employ first.

I simply need to get a hands-on feel for the tricks of the trade as I eventually plan to employ these various strategies in the state of Michigan.Anyone in the LA area that's willing to discuss further?

It’s not entire clear to me if your currently employed or not?

David, house of that size in Moore should pull at least $1.5k.

I don’t want to get to big in size.

I do a little accounting from home for my pre-children employer, but otherwise my job is caring for our twin 2 year old boys, managing the house, and our 8 rentals. 

I reduce my wage income through contributions to various retirement vehicles including a deductible Employer match (30K+ currently) and medical savings accounts (although that is only a modest tax savings), but I am not counting on too much more than that to directly reduce my wage income.

I have built a pretty decent sized rental portfolio of 6 condos, two 3-units, a 2-flat, a 5 unit a 6 unit and an owner occupied 4-flat all in chicago.