Most private lenders I know are hesitant to lend >300k.

I try to secure motivated sellers who own properties free and clear, and my exit strategy is Assignment of Contract.

Ex: Credit score 625 or above.Income 2 to 3 times the rentJob verificaton current paycheck for last 4 weeks.Occupancy,, limit occupancy in unit / house ,, the total number of people can't exceed that number.Criminal,, no felonies..Valid Social Security NumberNo CosignersRental verification from previous landlord.No prior evictionsSample list.. separate application for all people in apartment,, combined income must equal the 2 to 3 times the rent.. 

Hey @Melissa Kirchhoff are you talking about a personal loan from a bank or private money?

It is my understanding that you will pay first/last but not an additional security on top of that unless you have a pet.

Ryan,What about private or hard money?  

For me it is only a 2-3 hour drive so it's reasonably easy to visit; I also have used the destination to get some needed flight hours as a private pilot.

We performed the move-out inspection and had to withhold $200 for cleaning and repairs.We sent the tenant the remainder of the security deposit as well as a disposition of deposit showing the deductions.

lolNo but seriously, you can refinance the property using a private or hard money loan program that offers a no or low FICO option.

I would recommend learning how to raise private capital.