It's a 4-7 day process to confirm the Tenant has sufficient funds. 

I am wondering if that would be sufficient.

The 3-4 units will have to meet the self sufficiency test.Feel free to reach out if you have any questions. 

That all being said, as your loan officer mentioned anything about the FHA self sufficiency test for a 3-4 unit? 

IF that's true, then he poses very little threat to you and should be a good prospect.I am a little concerned because you mention he's been living with family, which indicates he is not self-sufficient and you may not be sharing the whole picture.

Without sufficient response, Josh will not see this as a desired item by the community, so please respond or vote and send your colleagues to this thread.Thank you.Will BarnardWill Barnard

This should give the tenant sufficient time to consider the new lease terms or make other arrangements if they choose not to sign a new lease.2.

This guy has offered you a month of rent, which is sufficient.

You need to focus on making an offer that gives you sufficient cash flow at a minimum. 

Excel or Google Docs should be more than sufficient for this, since the management company should be doing the heavy lifting here.