I know that I need to have written criteria for when going through applications, but am I allowed to have different criteria for different properties?

Current rents per month: for whole park ~4KFair market rents per month: I'd guess just at > $500/unit and offload the utility costs on the renters, current paid by park ownerDown payment or equity: Expect I could come up with 30% down if neededSource of down payment funds, if applicable: own funds and borrowing from/against IRA/brokerage acctIncome Source: Salaried in telecom construction management for ~20yrsGross monthly income (optional): $5K/moMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $3KFICO: Excellent 800Credit issues: just mortgaged a rental property in Feb and cannot yet show rental income history to offset costs.

Current rents per month: for whole park ~4KFair market rents per month: I'd guess just at > $500/unit and offload the utility costs on the renters, current paid by park ownerDown payment or equity: Expect I could come up with 30% down if neededSource of down payment funds, if applicable: own funds and borrowing from/against IRA/brokerage acctIncome Source: Salaried in telecom construction management for ~20yrsGross monthly income (optional): $5K/moMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $3KFICO: Excellent 800Credit issues: just mortgaged a rental property in Feb and cannot yet show rental income history to offset costs.

I actually had a delayed financing application fall through bc I was applying for the refi in my name, but the house was purchased with funds in my partnership's bank account.Alternatively, you may be interested in another creative strategy for doing a cash out refi without waiting 6 months, described here Hope this helps!

Division of Profit (or Loss):At project end, whether from sale to a third party or resulting from a permanent ownership change between Parents and Me, the following items will be settled in the order listed below.Remaining monthly salary due to MeParent's mortgage gets paid offParents’s project costs (plus interest if applicable) get reimbursedThe first $100,000 of profit is split 30% to Me and 70% to Parents <-- (Their insistence)All remaining profit is given to Parents until they are reimbursed for their original equity, then the remaining profit is split 50/50 between Parents and Me.Questions for Discussion:What aspects of this deal do I need to reconsider or develop further?

(I do have to throw a breaker if the power ever goes out, to reset it back to the automatic mode)For your application, I like the light switch idea.

When you have a sizeable down payment and good credit, there are numerous loan options for cash flowing rental properties, even when you don't have a job.  

I currently use Monday.com extensively in my "day job" as a consultant and it has some promise for real estate applications. 

If you're going to live in the 1-bedroom, I actually prefer the strategy of keeping the rent a little lower so you will have a bigger pool of applicants from which to pick your cotenants.My one piece of advice for this property is to put in an offer quickly.

Both of these would normally get factored into escrow, but if applicable you’ll be responsible for paying them out of pocket Last note-even if the seller requires a down payment, you have other options.