And even then I have to admit the entire operation is identical to hospitality/hotel so there is that, I get it. 

As of late, DSCR has been extremely popular with RE investors as the qualification is much easier (no need to see any sort of income verification docs).

There’s a few things I can give tips on from my experience:- The average income is lower, so it was hard to get in your typical renters who want to do a long term lease; nearly every one of my renters paid late despite credit checks and employment verification.

Purchase target is $200K with a $150K rehab cost for two nearly identical buildings.

Hopefully his father can help identity local deals that aren't online.Any and all info and advice is welcome.

(c)Furnishing reports in connection with credit or insurance transactions that are not initiated by consumer(1)In generalA consumer reporting agency may furnish a consumer report relating to any consumer pursuant to subparagraph (A) or (C) of subsection (a)(3) in connection with any credit or insurance transaction that is not initiated by the consumer only if—(A)the consumer authorizes the agency to provide such report to such person; or(B)(i)the transaction consists of a firm offer of credit or insurance;(ii)the consumer reporting agency has complied with subsection (e);(iii)there is not in effect an election by the consumer, made in accordance with subsection (e), to have the consumer’s name and address excluded from lists of names provided by the agency pursuant to this paragraph; and(iv)the consumer report does not contain a date of birth that shows that the consumer has not attained the age of 21, or, if the date of birth on the consumer report shows that the consumer has not attained the age of 21, such consumer consents to the consumer reporting agency to such furnishing.(2)Limits on information received under paragraph (1)(B)A person may receive pursuant to paragraph (1)(B) only—(A)the name and address of a consumer;(B)an identifier that is not unique to the consumer and that is used by the person solely for the purpose of verifying the identity of the consumer; and(C)other information pertaining to a consumer that does not identify the relationship or experience of the consumer with respect to a particular creditor or other entity.(3)Information regarding inquiriesExcept as provided in section 1681g(a)(5) of this title, a consumer reporting agency shall not furnish to any person a record of inquiries in connection with a credit or insurance transaction that is not initiated by a consumer.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.

While on the surface of examining the rents in the most popular zip codes (19143, 19139, 19142) might show Section 8 rents identical to market, that being said the conditions needed to reach that rent are drastically different.

Call the county immediately for verification of their story. 

Your fee does have to be no worse than whatever the surrounding landlords are charging, or you won't get applicants.Lastly, there are now a number of third-party employment verification services (like The Work Number) that charge from $18 and up to give you the verification of an applicant's employment and income.