You would have to make an application to the bank and be approved.  

Hello BP,I am in the process of applying for our first commercial loan. We have done numerous residential loans since we started investing about 2-3 years ago. The loan is for a multifamily residential property. One l...

Make sure you have a solid application and due your due diligence on the buyer.  

You will find most of this in the SEC Regs as mentioned and you'll need to pay attention to  the applicability of law and regulation to arrive at the differences between lenders and thos who may be exempt from certain activities.

Can I go ahead taking tenant application & start credit & background check?  

I am currently creating a new application for real estate now.

There are too many different factors that affect the market, and predictions for the overall US housing market are even more likely to be way off or not applicable to your local market.

The next day(today), I get in the rental car to drive to the water company to complete the application for water/sewer service, and I noticed a couple of survivor fleas were once again, jumping around on meas I was driving :crying: I *THINK* I got them by physically killing them by crushing them, and so far, so good both here in the hotel room, and the rental car, but what a hassle and PITA a flea problem can be!!!

I would instead tell the applicant that their application is acceptable and the unit is theirs if they want it. 

I hope you are getting all their lease info ( application and leases from the seller ).