@Perry Farella, yes I am aware, the total line of credit you have available to you is considered as part of the qualification process for future loans.

They prefer all cash because financing falling through is a very common reason for a deal to not happen.It’s very frustrating when you are under contract for 30 days and then you have a lender pull the financing from the buyer for whatever reason.Pre-qualification letters are very easy to get - an actual loan isn’t so easy.It’s not uncommon for sellers to go through this process 2 or 3 times on the same property, waiting 90 days to finally close.

Zach, if you are referring to the qualification for the Solo 401k - if you have full time employees (anyone working more than 1,000 per year) other than you and your spouse then you are ineligible for the Solo 401k. 

Once you take someone with an eviction , you have to drop that from your list of tenant qualifications .  

Then, when they call, go over the points in the ad including qualifications and info about the property.  

It's a waste of $30 for them if they don't meet the qualifications and I let them know up front.

I filter most of my inquiries by directing them to my website and look at our rental qualification sheet and then make them fill out our app and send back to me.  

Hello Matthew.If that was me in your situation ,I would let the lease expire. 4 months goes fast, (obviously do not renew the lease)once they all move out do your house inspection, and charge accordingly to the wear and tear.Ultimately count your blessing that you did not get in trouble with the County, use this situation as an experience to get wiser, and more strict on your tenant qualification for the next time.  

Ridiculously stringent criteria are so crazy that nobody meets the minimum qualification, thus you pick the one that comes closest - but if there should be an applicant that does qualify then you accept that applicant. 

It's not easy to find someone with all the right qualifications but there are some out there.