I gambled on the cheap solution and lost.

Some of the PROS include:- Speed of the payment (Zelle is nearly instantaneous)- Most are free (both Cozy and Zelle are free)- Not having to pickup checks or deal with excuses about checks getting lost in the mail - Not having to go to the bank/ATM to deposit checks or money orders- Not having to worry about bounced (NSF) checks- Payments can be automated so tenants and/or landlords don’t have to do anything after initially setting it up (the payment will just automatically transfer on the chosen day of the month each month)On the other hand, some of the CONS include:- Speed of the payment (This was also listed as a pro, but I wanted to point out that with some of the services - like Cozy - it can take a while for the landlord to receive the payment.

Give it some time and them move to another market if the first one doesn't prove promising, rather than focus on several at once.I've managed to network via friends, friends of friends, or work acquaintances into a trusted realtor in my chosen market who could jump start things. 

If I give a free month as incentive I am guaranteed the lose of $3500, if I take the gamble and not collect the deposit, I’m hedging my bet that the tenant wont trash the place, and therefore less likely to lose $3500 bucks. 

i'm looking for the forum's advice on the most efficient/effective way of weeding out properties. i'll be living in the property for at least a year. while i live there, i'll be living in it (so property can't be a complete rehab), fixing or improving the property, and then either flipping or renting out the property. i've looked at about 18 properties the past 3 weekends (i just started 3 weeks ago). the 18 properties were chosen based on 2 broad criteria: 1) based on pictures, description, and google street view, choose properties close to the metra (in illinois), in a location with a great high school (>=8 score), and in nice(r) neighborhood.2) look at zillow for an idea on property values in the neighborhood so that i'm not buying one of the most expensive houses in the neighborhood. if i feel the house i'm looking at is somewhat undervalued because it needs work and there's some room for me to flip, then house passes.this criteria has helped me weed out 100's of properties, but takes me a bit of time.i'm curious, is this a good start or are there other ways that the full time/professional investors use?

Unless your area has a special rule, our property mgmt team accepted the first qualified applicant and notified the other applicants that they were not the ones chosen and told them that their application would be kept on file for future available units, or informed of why they did not qualify.

I took the gamble and got it 101k and made it work for me.

Her edge for me to consider her over others is that she can offer higher and stable rent, but I need to verify if her higher rent is including utilities ASAP; she asked me to increase my asking rent to what she’s allowed from section 8 if I can provide her a cooking stove, and to install central air which I’m considering anyway.And what should I tell my other turned down qualifying applicant without any discriminating element that I might not be aware of if they ask for the specific reason after I’d told them that I’d already chosen a financially better qualifying tenant over them?

I much perfer to be conservative rather than gamble.

If manufacturing comes back in my lifetime, I'll be happy, but I'm not holding my breath or gambling my future.