the folks I know that have the stomach for this type of investing have their own custom scoring system I have often enquired how they do it .. since 95% of the tenants will be below 600 ficoWhat they look for is habitual non payment of little things like cell phone and direct TV etc etc.what they over look and don't count is medical and eviction is out.you just need to pick the best you can... and maybe your tenant base is not that bad but in C to D in the mid west this is your tenant base. 

At this point, begin selling and trading up - sell whichever property has the lowest ROI, use cashflow and additional savings from our day jobs to buy into larger/higher cash flow properties.

WHICHEVER of your tenants gives you the most pushback on this, needs to be the tenant that you select to be given the 30 day notice.  

Look into HomeStyle renovation loans from FNMA. 80-85% LTV (ARV or purchase + cost of rehab, whichever is smaller) for 1-unit investment properties.

Jonathan, which ever way you choose you so long as you keep in mind and think through your angles and have multiple out's feel confident in that.

My advice is: Whichever route you take.

And yet, both of us were able to find and succeed in REI.So - whichever side of this equation your education satisfies, you can succeed.

The property will be rented to Applicant on a ONE YEAR LEASE basis at a rent of $995.00 per month, if Applicant signs Owner's written One Year Lease and pays Owner the first month's rent ($995.00) on or before MARCH 20, 2011, in which event the holding deposit will be applied to the Security Deposit.Owner and Applicant agree that if Applicant fails to sign the Lease Agreement and pay the first month’s rent ($995.00) on or before MARCH 20, 2011, Owner will retain this holding deposit to compensate Owner for the inconvenience.A PRORATED AMOUNT OF $385.20 FOR MARCH 20-31, 2011 WILL BE DUE APRIL 1, 2011 AND STAND AS APRIL’S RENT.

If they are not permitted and zoning will permit them they will have to pass a full codes inspection, which ever housing rules the local city uses.

Cell phone, car, etc.