Get a DBA and use to open a business bank account.Have your properties "hire" the DBA to manage your rentals and collect rents.Most states require a lease to identify the owner of a leased property, whether a person, trust, LLC, IRA, etc.Landlord = Lord of the Land = Owner per deedAgent = someone legally representing the ownerProperty Manager = Agent

When we get farther into this process, I will absolutely ask to see all the leases and proof of payment history for the current tenants. 

If you were entitled to those lawyer's costs your lawyer would have asked for them in the lawsuit because a judgement gives you the most ability to potentially collect that money back from the tenant. 

There are other towns with much less city intervention and will have much higher chances of collecting higher rents. 

The only thing a tenant does it prove the rent you can collect as opposed to a proforma of suggested rent.

@Morgan Reynolds Did you ever get your pitch book built or collect any examples?

They will almost certainly demand a proof of funds letter too.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

The investors would be advised to pool together some capital to retain the services of an experienced securities law firm to do an analysis of whether they have cause for complain, cause for lawsuit, and reasonable chance of collection.  

If the evidence does not pass all of those hurdles, we have a form letter that they have not provided sufficient proof of an ESA.