@Kelli Huang  Our investor only cash-out refi loans don't require income or employment verification because our lending requirements are based primarily on the property, but it has to be a rental and not owner-occupied. 

Become familiar with the area including the crime and employment rates. 

Joe GoreIf they have a 730 and their income is good and their employment checks out and they have no evictions , bankruptcy, or a criminal record, then yea, that's the ideal tenant.

However, you might say 3X rents, that you verify employment and income and past rents.

@Joe Gore Then you're admitting in your own post that this is something new and thus it does not warrant the type of condescension that you're employing here and in most of your other posts.

For another, don't overlook the value of benefits - health, vacation disability, sick leave, employer Social security match (7.5% or so), holidays.2008 took down a lot of landlords, especially the highly leveraged ones trying to reach your 25 homes level.

Also I was wondering how people here deal with "self-employed" income--do you increase the deposit for that, or just refuse to count that money as income?

She is one year into a good job and had a long employment history prior to her lay-off.

Simply trying to help a friend's daughter.Jeff, while you may have 70 SS deals under your belt, when it comes to the legal stuff, let's just say I'll pass on your advise.I have under my employment, a Texas licensed attorney.

I really didn't anticipate doing this, but can't resist it.It seems like this thread has lost its' allure, just you and I.