Give the tenant a $20 gas card and call it a day.

I'm thinking the first things to do are probably network at REI to build my cash buyers list, get business cards to hand out and investigate setting up an LLC.

We required picture ID, SS card or evidence of SS number, last two months bank statements, from the applicant.

Without a third management entity, I would conceptually have to duplicate everything... for instance, two accounts with my tenant screening service, two Home Depot credit cards, which entity pays for a major tool purchase that will be used on both companies?

I won't be doing any patents, just using it for my marketing materials (business cards, signs and letterhead) most likely.

Actually, you reminded me of a couple of GC's I met last year whose cards I kept who specialize in rehab/flips.

I can say that we do not rent to the tenants with absolute crap credit, that have credit card debt up the kazoo, and smokers need to do it outside or lose their deposits.

If you could forward me the info when it comes up I would appreciate it.As for the Eagles, it maybe too little too late but with the NFC being weak, minus a few teams, they might sneak into a Wild Card.

I have been studying REI for several years now, but have yet to make the leap into actually getting started, mainly because I am still unsure how/what I can do in my situation.I have quite a bit of credit card debt and no savings, so I don't know what to do to get going.

As far as using credit cards goes, yes, I'm leary of that, too.