Once you've proven yourself, then you can consider a higher-risk situation with 100% leverage.

The court is of little help in such situations since if tenant does not provide forwarding address, the court will not process a complaint. as a Landlord i am desperately searching for a way or a method outside of traditional credit bureaus to verify and screen such tenants.

Banks have a vested interest in getting lowball appraisals in BRRRR situations, and if appraisers want to keep working for their main clients, those banks, they quickly learn to be well-versed in the art of giving the banks what they want, money-making lowball appraisals that screw you, the investor, and take money out of your pocket.An appraiser is going to come in with a point-and-shoot digital camera, or, in the worst case, use her/his phone.

It will address things specific to a roommate situation like using and cleaning shared common areas, cleaning responsibilities, quiet hours, etc.

I was a senior in college studying business management, evaluating my personal financial situation, and determined to be a wise steward of my first paycheck after I graduated, knowing I’d be climbing my way out of about $20,000 of student debt and several grand in auto loans.WhIle searchIng for somethIng productIve to lIsten to on a jog I found the bIggerpockets podcast.Ive learned more from BP than I ever dId In college.Despite math, my wife and I made the personal choice that we’d pay off our student and car loans before we got started.Fast forward three years later we paid everything off and saved $20,000.

With an OOS situation and large rehab being done by the people that are also verifying the work can be problematic to say the least

@Patrick Daniel wouldn’t me putting down a good down payment help the owners situation a little bit?

I would reach out to your attorney and ask them what they think is best in your situation.

Other than that though, the deal seems like a decent situation.

I am in the same situation down here as a college student in Pensacola FL.