Based on the information above, should I still require their  parent(s) to co-sign?

Hey Colorado investors.

Hey Colorado investors.

We've always used standard screening criteria and processed applications in the order received, but as @Patrick M. says above, it's the wait time forcing the wheels to turn slower that are killing us, and it's equally unfair to renters.  72 hours for additional information (like adding a co-signer/guarantor if we discover someone has no credit - like a college student), and 48 hours for them to accept an approval.

@AUDREY DESOUZA I am able to get more if i have a co signer, which i am able to get one.

Now for some backstory; starting 4/1/17, I will be renting a room via craigslist in Morristown, NJ which is on a MTM basis, just recently I sold a large percentage of my co-owned valet company, and with the tax season, I am looking to use this cash to buy. 

“Our legislation would not only strengthen disclosure requirements and protections for homebuyers, but also help expose bad actors and facilitate their prosecution.”John Henneberger, co-director of the Texas Low Income Housing Information Service said: “These bills will help consumers be more informed about risky wrap-around mortgages and better protected from unscrupulous lenders.”Trish McAllister, executive director of the Texas Access to Justice Commission, added that the legislation will help families stay in their homes.

I have called a bunch in the area and they seem super expensive compared to what we pay in Colorado. 

Title co's will be most familiar with the standard form.I also have good luck with Letters of Intent.  

I also have a non-occupant co-borrower that helped me secure the loan.