You can also screen applicants (debt-to-income ratios, income verification, background checks, etc.) through tenant-screening services such as TenantVerification.com, ScreentheTenant.com, e-renter.com. 

As far as the FSBO I subscribe to a service called beenverified . com to find current address, emails and phone numbers of people 

I also look at straight ROI - as this includes debt servicing whereas the Cap Rate does not.  

I'm currently still active duty military, and my goal is to get my real estate business firmly established in the next four year so that when I get out of the service I don't have to apply for jobs unless I really want to (probably not).

It is another term for the Cash on Cash ROI on an all cash deal.The $12,000 NOI is not the return, it is the cash flow produced by the asset before debt service.

Karma is a ....never mind.Anyway...in your case your applicant is in California; you are in Georgia.  

I have application with clean background checks and credit score of around 680Income to rent ratio is 2.5.I have asked for a consigner.However I am wondering if There are any other options worth pursuing to mitigate the risk - such as ask for 3 months rent as deposit instead of one month ?

Hi Joe,But then again there are those that do manage across the great East / West divide ;).I have been working with a PM for the past two years and quite happy with their services.

So if you truly have valid reason or reasons to support your application that indeed the MFH will be your primary home, then you have a good chance of the underwriter and bank approve your loan.

Craigslist(Search)Look through the "Real Estate Services" section for cash buyers.