*None of this post is intended to create an attorney-client or CPA-client relationship. 

They loan up to what you paid for the property within the first 12 months if memory serves me correctly.

Or if one of your current clients referrals another client or another buyer then you can always discount them on their next purchase. 

My advice to you is that as long as you understand that there are more negatives then positives and this area is not that great, if you are willing to roll the dice then go for it but I could never sell anything like this to a client as I know statistically how this will go. 

@Morgan Van Ness - there are a lot of factors; location, condition, utilities, long term tenants, ectMy clients have rented 2 bedroom units from $800 - $1800sometimes you see properties with tenants for years and they don't raise rents.I have units with tenants for years that are good and I don't raise their rent

And while the charity is part of the paying process they won't let their "clients" sign a lease, the caveat being if there are any issues the landlord can contact the charity and they'll handle it, whether that be removing the tenant or fixing the problem. 

Yeah that is what I have heard alot too but 1 of my lenders that I refer out to alot of my clients, was telling me that I would not be able to use ANY of the rental income until I show it on my tax returns for 2 years.

In addition to that, I am getting the tenant's address history from their credit report to see if there is any inconsistency; I will also contact any additional landlord found this way.Now, I don't just take the contact information that the tenant applicant has given, because the professional tenant will give contact for a friend who will serve as a "favorable reference " - I insist on getting the real information for the real landlord.

Primarily, they are for referring out of your area, but I know some that use them to refer out clients that they don't get along with, but prefer not to totally lose that commission.  

I've got a few clients that waited on the sidelines and finally bought something a year later for 20-30% more.