For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Other ways of using SDIRAs could be to invest in syndications, performing  or non-performing debt, precious metals, raw land, precious metals, mobile home parks, self-storage facilities and more. 

The only thing that I see missing if they are purchasing with hard money debt they may want to factor in 3% - 5% for closing costs (points, fees, title, etc) Thx Zachary!

If it's a larger debt, I would not offer cash for keys.

I couldn't understand why their credit wasn't better considering their income was what it was and their debts were not unreasonable.

This leaves $2600 after debt service (PITI).

Or in your case, maybe even change classes of property and use what's known as a consolidation exchange to combine the sales into a larger asset like a multi-family or commercial property.

The process must be understood and applied to team building, investing your and 3rd party capital, and financial deal structure with debt and equity sources. 

The labor forces used are rarely licensed and insured, are the bottom of the bottom and paired with the cheapest materials... a losing combination. 

Hey Jason - if it's a 1-4 unit, you would need to value it based off the sales comp approach (assuming the buyer is using debt financing).