I just went through the whole application process and they even appraised it only to tell me I have to own the property for at least a year before they can do this deal.

A few bucks for the post and a few bucks for a galvanized post base will be structurally sufficient for pretty much any application.

How long did it take to fund from when you submitted an application until you received funds?

Video tape the way the apartment was left. 

But, those are, from what I hear, full of lots of red-tape and tiresome logistical processes, so you might just be better off going with the low-down payment loan anyway.  

While the state government may have created red tape/permits specifically for real estate, there is not a statewide general business permit.

Do you guys think using data on a tape will find motivated sellers to mail to. 

Moreover, Bank appear to only want to deal through a real estate broker, which is also hard to find due to the red tape associated with these type Loans they shy away including the financial institution.  

I would not accept any applicant with a score below 650 or one with debt. 

I am a newbie investor who really can't offer any advice on investing, but could certainly help with with value add opportunities as well as ways to potentially maximize your bad debt collection from those residents who you had to evict or who have skipped out on their lease.One of the best things I recommend an owner does with their residents is to get multiple emergency contacts on their application.