We were fortunate to buy a house that was almost entirely turn key so construction wasn't needed.

Now you have lost 4500x6= $27K. 

@Joey Chan There is an investor here on Biggerpockets, Frank Rolfe, that made his first fortune in the billboard business.

.⚠ Unstable Employment – They may have lost the job or never actually started, making verification impossible.⚠ Other Issues – They could be hiding something (evictions, unpaid rent history, or other financial instability).What You Can Do:✔ Ask for the official employment verification letter – Many HR departments provide standard verification letters upon request.✔ Verify pay stubs – Cross-check them with bank statements to confirm deposits match.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.

Now that I have owned this property for almost 2 years and lost thousands and thousands of dollars, what is the next step?

I just shook my head and honestly lost respect for them.

I was willing to work with him as I have worked with others in the pass who lost their jobs and struggled with rent but they were always forth coming, clean, and came to me to work with me to stay.

Others broke even, most lost money. 

I have moonlighted for several Architects and through hard work and good fortune stumbled on an opportunity to become an apprentice electrical engineer. 10 years later I am a senior engineer, together with my wife, have a decent portfolio of Real Estate.

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.