There are also members who are sociopaths who are mostly correct in their advice but their communication and delivery is so poor that the OP is not going to follow it.

Am I running these numbers correctly?

Also, Jay is correct, what you're doing is in the realm of what you have to be licensed for in Oregon, and believe me, they take licensing serious.

@David FriedmanYes you are correct, it is almost like a reverse mortgage and yes there is a huge element of speculation to assuming a 2% increase in property value for the next 30 years (although it is in Irvine near the University!).

I wanted to know what the correct process is to move forward with this prospective tenant.

So, if I understand correctly, the Realtor that screened and placed the tenant for you tells you after the fact that they feel the new tenant is a lawsuit waiting to happen?

@David Hildebrandt Thank you for your reply.

Where is the best place for me to go to find the correct forms to use? 

The key is to work with someone who can come up with a strategic plan to target the correct banks and lenders based on our specific situation and goals instead throwing applications at a wall and hoping for the best.

Correct me if that's not what you mean.For example, I'm under contract to purchase a property and will make a decent profit.