Anyone you are working with should be able to provide a 5 year history of what they have been doing.  

I always walk them through how the process works and remind them in a nice way that we'll put a judgement on their record (ruining their credit), garnish their wages, and ruin they're tenant history (with an eviction on their record).

hello everyone from BP.i am about to fill out my mortgage application for a multi family rental property. credit is tier 1 my co applicant's credit is tier 1. between the both of us we have 25% or more for a down payment. my co app has a good steady job and job history. here is my worry. after being at my last job as a waiter in a restaurant for 10 months, they got into some issues and closed down. i spent a month just working side gigs until i found something. im now at a new job in the same industry with better pay but have only been here for 2 months. im thinking that the bank (wells fargo) will not consider my income. if thats the case we wont be able to secure financing with only using my co applicants income. any suggestions ?

Prepare a loan package that you can deliver to multiple lenders - it should include the financials and a one page summary of the asset, its performance history and what you are requesting.

This credit history is a good indicator of your ability to make payments and repay the loan.

I pay about $30 for a good screening that includes credit, address, and job histories.  

If you own them personally, you may come up against challenges.It's generally easier for businesses to leverage assets, though it can still be challenging depending on the business's credit history, balance sheet, etc.My $0.02 ...

Your not required to tell applicant what former landlord disclosed. you have no way of documenting it, it was a verbal response. unless you got it in writing  If they left money owing, if they didn't have a mutual lease termination or pay a buy out fee then they didn't give proper notice where they lived before , left left mid lease and didn't complete the lease terms, and that's basic enough reason that rental history had a flag.You will find a more qualified tenant, with higher credit , higher income and better landlord references.

Specific screening requirements that I am wondering about would be credit history, past landlord references, and criminal background check. 

Hi @Chris Trupiano you can remind them our service allows them to opt-in for credit reporting at no additional cost to help build their credit history.