Good agents will screen the financing to make sure they're competent people who will close on the loan.

I'm comfortable with screening renters but wondering if anyone out there in Bigger Pockets land has advice on how to prevent problems, horror stories, things I should add in detail in the lease.Appreciate any recommendations.Thanks,Mike

You don't know how well the owner screened their tenants.

The management fees change too for class A I have managers who do 5% flat but for lower class areas you are typically looking at 8%+. 

My idea: in addition to shared laundry facilities in the basement, what if I also set up a small shared gym (a treadmill/ bike/ rower/yoga area, etc) and a flat screen TV or two and maybe a sofa?

I’d keep the 1% guideline on rent rate as a minimum too.Once you have the property, do the necessary touch ups, then advertise and screen tenants.

Have them screened the same as you would for any tenant and have him added to her lease. 

Our plan continues to evolve, but as of now, they're 'stick built' small cabins on a HUD certified modular frame - with a huge walk around screened porch, perched up on a Western North Carolina mountain.  

Hi Joseph,Why not make story 1 Grandmas house (with everything she needs (quick temporary type remodel--walk in/roll in shower, handicapped water closet, one of those beds that auto tilts up at the head, and a new big screen TV. 

@Anthony Dooley Is the 12% interest for 6-8 months a flat fee?