Originally posted by Michele Fischer:...You'll be doing your own property managing?

@Michele Fischer I like the idea of discounted late payments if the tenant informs you ahead of time.

@Marcia Maynard and @Michele Fischer have been willing to share their criteria, so you can look to them for guidelines. 

@Joel Fischer Hey Joel, I could see contacting mailmen possibly generating leads to house purchases since the individual mailman would know what houses are vacant on their route, how long they have been vacant, and noticing houses that go up for sale etc on their route.

I like what @Carl Fischer said about borrowing at 30 and repaying as if it were at 15-year amortization, except when you don't want to.

Originally posted by @Michele Fischer:  Best to let them leave on their terms to not give them more fuel. 

Sincerely, Fischer Properties – Owners

@Michele Fischer Thanks for the insight and the realist view.

@Michele Fischer I like how you say that other applicants may be "ahead" but not necessarily mean that they are stronger, not first application in.

Bigger Pockets also has a lot of great forums and articles about self-directed investing.Thank youCarl Fischer