It may look like you are overpaying on it on paper but if you buy nice product in nice locations you will appreciate and be well occupied at the same time in my experience.  

@Jacob Zivanovich, at this point I would not even bother with paper applications especially if you don't have access to a well vetted one.

Hello and welcome,Best move I made was taking some time to put a plan on paper, talking with some investors, and a bunch of reading before jumping in.

The cost of all the vendors to process a loan: credit, audit, LOS, tax, Underwriting, processing, verifying every piece of paper is a range of $9000- $11000 per loan. 

Do you group paper receipts into folders for each property/entity and then pay bills once a month, for example?

You are organized, but already in the weeds with a lot of paper ideas that may not be realistic in real life.

I joined bigger pockets a while back but had to focus on paying my way through school and passing a dual major in Chemical Engineering and Paper Science Engineering.

People like this generally want to rent until they want to leave, which might just be week to week, and don't want any paper trail.

A verbal agreement is fine to get the deal figured out on the front end, but definitely try getting that deal down on paper sooner rather than later!

The questions was whether my fire escapes are up to code, and since the Fire Department approval was given in 1940, on a small slip of paper, it's grandfathered even though it doesn't meet current codes.