Banks can do this because they have millions out and they support the community but private for profit small lenders no way they can do these and keep the rates the same as when they are doing 300k loans at 2 pionts and bringing in 6k in fee's plus junk fees.. its the exact same time effort and paper work to do a 50k loan as a 300k loan or a 1 mil loan. or a 15k loan.  

---So, insist on them providing the rental application and supporting docs for your review.

If you are looking to sell to the end investor make sure you can defend and provide data to support your evaluations. 

Numerous issues here.1) You state you wrote off property improvements as expenses. 

I appreciate the welcome and support from the community.

Our goal is to rent your vacant property as efficiently as possible, which requires us to balance how long a property is vacant, rent amount and tenant quality.Screening ApplicantsPoor screening often results in lost rents, legal & court costs and costly damages.Screening of applicants includes the following:Full credit/eviction/criminal checks are done, instead of score-driven reportsVerification of rental history includes validation of actual property owner to avoid fraudVerification of stability of income & employment via YTD paystubs & W-2(s) (analyzed to confirm not fakes)Income is calculated 3 ways to spot stability anomalies: pay period, YTD average and YTD + W-2 average.Debt-to-income analysis (more accurate than traditional 3x rent requirement)Bank statement to see if NSF issues, if deposits support income, prove MoveIn Funds, also analyzed for unusual transactions.Pet screeningHolding Fee required from approved applicants to make sure they are serious, before your property is marked pending.

Multi family attracts me because of the potential it offers to increase one's cashflow and net-worth tremendously in a relatively short amount of time compared to traditional means - at least this is impression I'm getting from numerous media/social media sources.

Current comps support value of $125k.

I find them to be really helpful in the support, accountability, and you get to learn from each other.

I would also recommend picking your preferred investment strategy first, then find a market where the data supports that approach.