If you already have a completed application we can use that to give you a pre qualification letter with our rates.

I work my numbers on 8% for Capax, Maintenance, vacancy and 10% for property management.If the deal doesn't stack up on these then it's not much of a deal anyway...Don't forget to add Taxes, insurance, and other expenses that maybe applicable like HOA, Home Warrenty (if you choose to have one), or any utilities if payid by the owner.

Applicants are not people only a collection of facts until the screening is completed.

I am currently using yellowletters.com for my marketing and may use their call center as well to pre-screen applicants.

I sent the message to him asking this person to fill out an application and upon approval she would we added to the lease.

I don't know anything about foreclosures in Washington but just in case it is applicable, I want to share what I've learned (and if you already know this, then forgive me!).

Jim.. preforeclsoures on the West coast are VERY difficult to do vis a vi the new laws that went into effect in the late 2007 to 2008s.. they are in CA WA ORyou best read up on those before you spend a dime chasing them down.. its not like it used to be and its very restrictive in how you deal with these folks under stress.. and how much you can make etc etc.you get busted breaking these rules and its not just a slap on the hand. 

That means it's more expensive and requires more downpayment, but you get the flexibility to buy as much as you can justify in your balance sheet and application.

Some of these things I've mentioned may not be applicable or advisable but a good attorney should be able to advise you. 

On other MACRS property you would use a mid quarter or half year convention as applicable.