Technically they are not "independent" contractors.I cannot find anywhere where there is an interpretation clarifying the issue, but I am reluctant to pay it out if it will not be forgiven.Does anyone have an opinion or insight?

Additional background: I just refinanced my property with a new loan of $411k and the approximate value is $500k.Thanks in advance

You want to do a thorough background check, but you also want to meet your applicants and see how you communicate with them, etc.

Of course they may need cash or getting older etc .. it doesn’t matter , as there is no true turnkey properties besides your own house and even that has issues at times .There is always more to the background than what lies on the surface.

Technically you should be fine, but lending is funny right now with the ongoing pandemic.

Hi,My prospective tenant just completed the mysmartmove background check.  

If you aren't in a huge rush, then I definitely recommend learning through Youtube videos (and bigger pockets) and trying to do some of the smaller DIY first.Of course i wouldn't recomment doing anything too technical or dangerous like plumbing or electric yourself...but I have found that I could do a lot more of a project than I thought I could...hope this helps

With no institutional background in real estate I was just beginning to think if I was being a bit too eager with being completely "hands on." 

So thorough background checks ensure a safe deal for the issuer.No document disclosure requirements because all investors must be accredited and theoretically should know the right questions to ask before they invest, making it easier to manage the deal.No waiting period requirement as with the 506(b) plan.Now that we’ve covered what the 506(c) plan is and its benefits, let’s take a look at the three main differences between the 506(b) and 506(c) plans:506(b) markets directly to deal sponsors network without general or internet solicitation.

If a tenant wants to renew a lease, it is within your right to screen (background/credit check, etc.).If an existing tenant is month to month and you decide to keep them, keeping the lease month to month is beneficial as it is easier to evict should the need arise.