@Ethen Royal, credit reporting doesn't help you collect anything.

I've had borrowers pull a lower credit than expected and rate increase by .25% on a $70k loan and he said the deal doesn't work anymore.

If you have bad credit an FHA 3.5% down loan can be a good option.

Of course this can change if you decide to move to a low cost area where this cash flow goes farther.

I'm of course assuming you don't have $7.5M cash and need a loan..

Send them my way please always like looking for stuff on market and of course off market.I have a private money lender in my back pocket  just trying to get started.I guess I can’t post my email on here 

They qualify you based on credit, down payment + reserves, and the projected rental income.

He's a young fella and while he won't be ready to buy anything in the immediate future, he will want to be out of this deal at some point so he can free up his credit, etc...

Someone with a 700 credit score will NOT pay that, but they will get their own financing.I worked at a Pawn Shop some years back.

@Slaven Slugic, get hurricane shutters for the time being in order to receive the wind mitigation credit for insurance purposes.