However Iwas warned that in the even of an eviction, if the tenant has access to owners bank account and the tenant deposits money after eveiction has been filed, it would stop eviction and cost me more money.

Manuel Acuna and Steve Babiak, I will see what I can do about getting you all access to the spreadsheet.

If you are basing a purchase price mainly on the income approach, then having access to a couple of years of P & L statements are absolutely critical.The gross rental income will include your vacancy rate.

.- I'm assuming you're not buying an REO with deed restrictions for 90 days.Those are the considerations I believe need to be taken into account.- Tom

Now he wants to make sure that there are no deed restrictions and also how the logistics of this work out.

Look for the ones advertising aggressively on Craigslist... we are currently filing papers to make me his unlicensed assistant which will give me realtor-level access to the MLS.

Take a walk through of the house as to access repairs, upgrades, etc.Pics, curb appeal, neighborhood (location), neighbors, etc...How is the agent's affect and their knowledge of the listing home?

Because of the restrictive lending requirements, loans are hard to get forcing many people into renting.

Unless the true owner of the cash gives you a signed letter granting you unrestricted access to that cash, you're just making an offer based on a promise and nothing more.

Check the deed for any restrictions.