If they refuse you then decide if you wish to take the risk of continuing or dropping out of the sale.

You will find that $300K for a 4-plex in this area is at the top of the scale.If the owner is moving out of state and doesn't have any equity, one strategy is to come in with a master lease or a lease/option which lowers the risk to you. 

@Paul DeSilva:@John Leavelle and @Anthony Gayden (above) are both correct.Unless you have more than 10 residential mortgages, or the properties are above the jumbo mortgage limits or you're trying to finance the the properties with the LLC intact, then they should qualify for conventional residential FNMA loans.For the LLC situation: my strategy is to close the loan under my personal name (no LLC), then after a few months of "seasoning" to establish on-time payment, notify the lender that I plan to drop the property into an LLC strictly for asset protection purposes.Many seasoned pros will tell you that you don't even have to notify the lender that you plan to do so, but will warn that doing so runs the ever-so-slight risk that they may actually call the entire loan due immediately.

sounds like the answer is no, but if you want to risk getting caught you can try....

The concept you explained though makes perfect sense in applying funds received to utility payments and then rent to mitigate risk.

Or take the risk for a month and see if they pay me, or would you run for the hills and pass on this all together? 

It's good to know and understand the risks. 

It’s not rocket science but it adds risk to the deal.

As an investor a 10% return wouldn't compensate me for that kind of risk as I'd be inheriting the problem if it was a bad deal OR only getting a 10% return if its a good deal (i.e. no upside)Not criticizing you - just curious on your response to that issue. 

Another year another opportunity for where one might receive applications from Independent Contractor (gig) workers.Does ANYONE have a process that they use to manage the risk associated with taking on Gig / Lyft / Uber drivers as tenants ?