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.

I can tell you that I live in a relatively cheap area, come from a blue collar background, already own everything I really need in life, and I would find it impossible to retire on 2 SFHs. 

Background story: A group of my friends (including me) are first-time home buyers looking to break into REI by means of House hacking.

If you move out of the property and renting it you are technically violating the agreement and the loan could be called, but I don't know if any lenders check if you are physically there. 

My current tenant who is on a month to month lease gave me notice on May 1st at around 8:00 PM that he will be vacating his apartment end of month due to a job change.He had the capacity to give me ample notice at least a week earlier than that and it would have given me enough time to find another tenant for June as I am seeing  Prospecive tenants also need to give one month notice before moving to their current landlords,so I will end up losing rent for June.Did my tenant technically break his lease by not informing me by 11:59 pm the previous day?

does anyone else experience potential tenants that don't want to fill out an application?

I don't want people to waste their time & apply if they don't fit the bill above. 2) After I get applicants, how do I shortlist the top ones & send them the link to do get their credit & background checked through Cozy (I know the technical aspect of how to actually do this, but I'm asking for about the shortlist process). 

Technically, it can be done either way.

I would recommend learning a bit from here and making your PRIMARY authority on this your real estate or business attorney (preferably with a Tax background).