I know a lot of landlords don't do this last part, but it's easy, and you're plugging into an existing framework (the same framework already used when those employees apply for mortgages).Asking for 2-3 employment references as a standard thing is not reasonable, especially not if they've been at their current job for some time.Asking for bank statements to validate income as a standard thing isn't accurate (since a buddy could just dump cash in there), but as a one-off for a specific reason it could be reasonable.

To save you time and money, I would look at using the framework from the state.  

- but most folks are looking for something else entirely, something that simply does not exist. as soon as one puts all of these fantasies aside, as soon as one looks deep inside and makes the decision to actually engineer a decent framework up front - which includes a sharp self-education in correctly perceiving reality, along with all of the practical matters that Jerryll mentioned above - then the true path begins. imo, this is a genuine awakening - believing in one's self above all others, working diligently and intelligently, accessing all of the wisdom that is already inside of you. all the best!!

However, your personal framework and numbers you generate on your investor p&l sheet don’t really matter to uw.

I'm all for having automation and systems in place and want to establish the right framework. 

I can go into all the details in another post if you'd like but if you do decide to run ads you want to follow the basic framework of casting a very wide net across your market and slowly narrowing down to an audience of people who will convert from your ads.

- What's a good framework for organizing investment criteria on a deal-by-deal basis so we can pass around potential investments as they pop up and let individuals decide their involvement level?

In many respects the REIT legal framework was designed to attract investors who want exposure to real estate without the direct ownership or lack of liquidity.

Obviously, that's going to vary a bit by state, but a general framework would be helpful. 

I had a private appraisal done by an approved company I know this lender uses (this is an important detail because I can request the same appraiser within their framework to guarantee the same results).