If you were unaware of this you could be in for a real shock.

I'm shocked!

Shockingly they learned ALL how to pay online.. it was that simple, we thought and over thought what could happen how we handle it what exceptions we make etc....

One thing about East Elmhurst your right under LGA flight path and is a shock at first,get your ear plugs ready if you move there.  

seems to me you could treat them just like your would a tenant.I mean your going to entrust far more money to them than counting on a tenant pay you rent right the worst a tenat could do is beat you out of a few months rent.so I would think you want the basics.. credit report and criminal backgroundafter 35 years of lending Hardmoney you would be shocked at what you find.. 

I'm closing on one now and just assumed the worst when pricing, but will be pleasantly surprised if there is a workout.

 (1) There is plenty of meat left on the bone (actual quote) and (2) if you send the borrower a complete package of all docs, weighing say five pounds you will " shock and awe" him into paying on the note.  

I'm shocked that the rented side can be rented at all.

-You posted this on another thread:"Mike, Jay, like both of you, I buy based on Internal Rate of Return (IRR) Analysis, not on calculations that only tell you what the current year return gives you.I met a few BP members recently and showed them how large the Returns are and it's quite shocking.

I know @Jay Hinrichs is about to do a new spec build a little bit above this price point and I suspect he is going to be pleasantly surprised with the outcome.