It includes income verification (must be 3x the rent) credit, criminal, eviction check and landlord reference.If a renter can't follow my directions: rejectedIf they start giving me sob stories or ask to pay several months in advance or lie: rejectedI might ask why they're looking to move while they're there and just get any info I can out of them to see if they say something stupid.Then I check income.

Or, the seller may tell you to go jump in a lake.Take your time negotiating, don't promise anything without verification. 

The asking price is priced as if the house was move in ready and the owner does not want to to entertain any offer below what is owed.

I don’t think you’re going to to collect rent.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

That junior lender needs to be prepared to to pay of your 1st and take over this project if you misstep and default.

You should be able to find one that allows you to customize the application a little, lets applicants attach documents like picture ID or pay stubs, and that gives you a full report like identity verification, address history (match against what the tenant reports), full credit report with score and activity, criminal history, etc.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

@Nick Wehrley We would definitely need to to know the cost of the buy down and all of the figures you're looking at but what I can say in general is that a lot of pricing matrices I'm looking at right now would favor doing the higher LTV with max rate buy down which SHOULD give you a lower cash to close and lower debt service than the lower LTV w/o a buy down.

My hope is that a process is put in place for verification of need.