For the Syndicator here is what happened.. they were buying existing buildings with the idea of value add.. well being Texas at that time it was very easy for new construction to pop up virtually right next to you or close.. then you had the new construction offering move in bonus's and people just kept leaving their older buildings before they could get to value add.. and their vacancy rates shot up to unsustainable.. and they no longer could debt service and or broke lender covenants and the foreclosures started.  

Banks look at two main things when deciding to loan you money.1) Credit Score (You can sign up for a free site to look it up - I use credit karma)2) Debt to Income ratio.

I haven't been asked to pay anything or sign up for anything @Wayne Brooks. 

Bonus tip: If paying out of an LLC that is disregarded, which yours is as you stated it is a single member LLC, then you and your son don't need to pay FICA (payroll taxes).

The tenant buyer would pay you the 3% fee.To get the homeowner to understand what’s in it for them, draw three columns down in the middle of a piece of paper, left write down the "costs to sell" with an agent, and the middle write down costs for the property manager, and on the right, write down lease to ownWhat the homeowner understands is that they net more money with lease to own and it doesn’t cost them anything for you to market for the tenant buyer; Sellers I find generally sign-up if they are motivated.I have a second strategy is more of a lease purchase arrangement (sandwich) where you have a long-term lease with the seller, like 5 to 7 years, let’s say rent of $900 a month for seven years, but you would guarantee the rent to the seller, and you would have an option to buy the property let’s say $95,000.Then you would market for the tenant buyer and get more market rent than $900 a month, say $1100 a month, and give the tenant buyer a price of $105,000 to buy in the first year, then increase rent by 3% and increase option price by 3% in year 2.These are the spreads of a sandwich lease-optionYou also have the spread of the option fee that you pay the seller and that the tenant buyer paid you,  Your fee to seller can be $10 and fee from Tber is 3% or $3000.The thing about sandwiches is there not legal in all states (Texas and others), and you have to be careful about guaranteeing rent to the seller if tenant buyer doesn’t pay you.

You have to affiliate with a brokerage, then sign up for MLS access.

https://ctcredit.net/You need to sign up and create an account.. there are a lot of rules for securing the credit report data and information.Plus, they probably will have to do a site inspection... 

If I have to do 10 steps and sign up for this and that and keep another password just to save a few bucks it's not worth my time.

As a bonus, many of these properties have been on the market 60+ days which means it is definitely a buyers market and there may be some good deals to be had. 

I'm very strict and picky because the income is just bonus money, not a necessity to pay mortgagee.