A few must-do when I screen tenants: Background check (absolutely no prior evictions), credit check - 640 and higher, landlord references, monthly income 3x rent amount. 

I am buying a multiunit rental and the rate I am getting is “ the rate will be calculated 5 business days prior to closing and will be fixed for 5 years at a rate of 275 basis points over corresponding federal reserve statistical release H.15 five year treasury constants maturity with a floor of 4.5%.

@Eric Klug your cost basis is every dime you put into the property prior to placing it in service.

Or if the debt was more than current market value, especially in a state where they are allowed to still go after the foreclosed prior owners for the difference.  

@John UnderwoodYes, confirmed STR regulations prior to the offer

On the towns website, the prior owners name is still listed as the owner of the property but I’m almost certain the presence of a property vendor means the home is foreclosed.

In the due diligence period - my awesome agent & partner Corby not only handled the 1031 but got me a free brand new roof on an insurance claim from previous hail damage prior to closing.

My wife and I are doing just fine with only some potential visits to Wilmington prior to the move potentially being canceled.

Confirming that there are no restrictions that would hinder plans, prior to making an offer or at least before purchasing the property.2.

She qualifies on her own, but I’m worried that this separation may be a ruse because her husband may not meet the rental requirements (prior evictions/criminal background, etc) Perhaps it was just a slip of the tongue, but she referred to him as her husband several times during our conversation and it’s odd to me that they’d show up together if they are separating.