We purchase our student rooming house as a "home" for my sister-in-law {she does live there ... see below} and, because of that, the rents did not count towards income for the purchase.Clientele: When we looked at rooming houses we found three basic types of rooming/boarding house in our area.Student - there are two universities and community college in our little city, so students are a prime clientele;Industry/Organization/Institution - another type of rooming house is one which is near and caters to a particular employer/workforce (i.e. a factory) or institution (hospital, military).Social -  the third type in our area is the rooming house that caters to the working poor, the addicted, and other on the edges of society.Each of the above types of rooming house requires a different set of skills and management style.  

Hello BP,I use Quickbooks online for my drafting business & was wondering how self-employed people set up their books for their personal finances, personal business & a rental, or two, or ten...I was told Quickbooks online does not have the ability to setup multiple entities like the desktop version does.  

I intend to do credit report, criminal records check, employment history, eviction records, bankruptcies and past address history. 

Outside of the trades there is very little good work.Bucks,westchester and Lancaster all have much better employment rates,median incomes and lower vacancies.  

Stephanie Bureau yes that is possible if you can find a tenant willing to risk the short term nature of the initial lease.One case where it might work is employment related rentals.

I'm an employed, high income earner, looking at buy and hold real-estate as a means to diversify my investments and generate passive income.  

In fact, while the number of people employed declined in Dallas in September, 14,300 new jobs were created in Indianapolis.

Residents are employed and working.

Convincing them living in Detroit is a better option than living in Fraser, Westland, Auburn Hills.People are going to switch employers every 2-3 years in todays economy so distance to work matters.  

One more random question: Do lenders generally call employers?