That cashflow is really dependent on the economics with limited employers.

And we know the owner, so he gave us a fantastic deal and didn't even ask for applications or proof of income from us.

Biggest thing is to screen for tenantsTenant Screening: The Ultimate GuideMake your house "tenant proof"The New Landlord ChecklistRead and learn from other landlord mistakesThe Top 5 Landlord MistakesTenant Applicants say the dumbest thingsgood luck!

The contractors who'll work without one are largely going to be the more desperate ones.I strongly suggest when trying out a new contractor, that you limit the scope.

One with a credit limit at $2k and the other at $10k.

Or can I pick the best applicant. 

But if you have a contract with holding company name for rentals, a creditor will sue Holding co, and Holding co's entire interest in other entities is subject to liability, not just one rental. 2) If I am understanding correctly, you also want to be a limited partner on some of the ventures ( BTW both General and limited partners have equity interest).

Or, if we deem necessary, if the tenant has caused problems in the past or has a history of late payments, we will then issue a non-renewal notification and begin to market the home for new applications which will then undergo our screening process. 

Beyond that, send EVERY visitor an application via email after their visit just to CYA. 

On line 14 where it states "Application of Rental Income"...it says section 1402(a) is amended by striking paragraph 1.