Yep....I get almost identical responses to my craiglist ads.

There are other 4plexes in the area that is identical and they rent for $650 per month.

When I implemented this change over the last 10 months or so, I exlpained it a little differently, while our motives were identical.

J Scott is correct, just not on a stated income basis without verification.

If you wait for the reinstatement verification til Wed and/or if you find out that the income just won't be enough to let him catch up, I'd try to arrange getting the tenant to vacate without an eviction.

Family Member is defined as follows, regardless of actual or perceived sexual orientation, gender identity, or legal marital status:  child, parent, or grandparent; o a child is defined as a son, stepson, daughter, or stepdaughter; o a parent or grandparent includes a step-parent/grandparent or foster parent/grandparent;  spouse or domestic partner;  legally adopted son or daughter, including a child who is placed with the Borrower by an authorized agency for legal adoption;  foster child;  brother, stepbrother;  sister, stepsister;  uncle;  aunt; or son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-inlaw, or sister-in-law of the Borrower.Or these other exceptions:(3) Exceptions to the Maximum LTV The 85 percent maximum LTV restriction does not apply for Identity-of-Interest transactions under the following circumstances. 

Did the seller provide all the tenant rental application forms, credit report and score, income, bank statement and employment verification? 

I review their paystub and do employment verification myself. of everything is good then I collect the security deposit and first month rent at the signing of lease.

The situation would be different if you found an identical property to the turnkey one listed for LESS.The main questions you want to ask yourself are (after first vetting and getting comfortable with the team) if you are comfortable with the returns on the turnkey property AND will it appraise at or above $99K. 

But this is pretty consistent with ~80% of lenders all being in a narrow band of being pretty freaking close in terms of rate these days once each loan offer is structured identically (back in 2006 it might be 0.5% or 1% difference in rate between lenders, not the 0.125% to 0.25% in variance we see today), meaning it comes down to knowledge, communication, responsiveness, etc.So the answer to "Is it worth paying more for a bank that actually communicates?"