Even if you get the initial application online (which I agree is the easiest way to go) you should require that you see the driver's license of each person over 18 who is on the lease at some point in the process where you have the chance to confirm for yourself that this is who you are dealing with.

Keep in mind that appraisers look at sold listings in the area to find the current selling price of similar houses, however the appraisers never go in the sold houses to see the current condition.

@Allan SmithHave you had issues or concerns with giving out the lockbox code for renters to see the unit?

I just get nervous when I see the numbers but I imagine with such low inventory and interest rates we are not going to see a large persistent price drop any time soon even if foreclosures flood the market later in the year.I am going to keep some cash in reserves and start reading up on investing in foreclosures in case this does come to fruition. 

I was interested because I see the potential in the unit and in the area.

Get the owner finance accepted offer, see the terms, get a title search done to make sure there are not any liens, make sure the person proposing owner finance is not wrapping a different loan. 

Wish I had taken the opportunity but was young and didnt see the value of being trained by the best.

An investor called, we went to see the home, he offered $32k of the $35k I was asking.

I see the BRRRR calculator and the HML calculators. 

Most landlords who bought 10+ years ago are happy with the cash flow they already have and don't see the upside in revenue as worth their time.