My hunch is that these list providers look for purchases with no mortgages to identify cash buys.I think I'm going to ask a Realtor friend to cross-reference an export from Kent's program with what each property shows in Realcomp and see if I'm right.

Fingers crossed that my investor inspection goes smooth tomorrow.

You can cross reference that.

Deal was a 20 units of 1 br/ 1 bath on the borders of Lakewood.  

You might be able to spot it if the applicant also has a collection, but a applicant could have a history of late payments without crossing into collections.

@Salvatore Lentini Somehow that never crossed my mind...

Maybe our paths will cross.

From listening to Wayne's interview and checking out the cross country tour that he referenced in the interview, it was clear to me that these CIDs had a couple of things in common with seconds:  The price point tends to be lower so you can spread your risk among multiple assest vs one, and very often you are able to exit through the borrower and keep the borrowers in their homes.  

Not a tax guy but I would be very hesitant to cross-purpose an LLC.  

Another option if you have multiple properties is to find a commercial lender who will do blanket loans (one loan cross collateralized across multiple properties).