Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

Your risk vs. reward is way off balance there. 

The balance on their mortgage is $190k. 

Balance that versus lending the money out at 10 percent.

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

By building strong connections and sharing knowledge, we can support each other's journeys and uncover new pathways to success.Moreover, let's not forget the importance of maintaining a healthy work-life balance.

- very low remaining mortgage balance!!

A key lesson was the importance of balancing renovation costs with market expectations.

Best neighborhood and best assets are subjective and largely based on the individuals capabilities (balance sheet, skill set, time etc.)

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.