That starts to build up a LOT of red tape. 

3)What questions or pre screening should i ask a potential applicant, is there a questionnaire form anywhere?

At the level I play, ALL my applicants have bad credit. 

There wasn't much red tape involved.

The problem is that the applicant owns a barbershop (since 2010) and the income is not verifiable via a paystub. 

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All of these are time better spent than listening to somebody explain cap rates or mortgage applications.  

What they have is paving fabric , it is but down prior to repaving a badly cracked road , it works similar to drywall tape , it doesnt allow reflective cracking , or the old crack to reappear thru the new asphalt.  

@Rob Cee   From my perspective if this was something I was going to do.. and I think NPN seconds can be bought for pennies on the dollars at least that has been the case on the tapes I have looked at over the years.. its like buying Asset tapes.. the bummers you just throw out and do nothing with..

Do you treat unsatisfied judgements like most landlords treat evictions (none, ever), or are there conditions, ie, how long ago, amount, etc... where you'd accept an applicant with one... or moreHow about mortgage foreclosures?