Never take on a partner that you don't know, where you have no way to verify their work, knowledge or expertise.Before you partner with a contractor you need to use them a few times and learn how the relationship goes, see the quality of work.

If the owner glosses over and says " I do not keep great records but he has been a model tenant" then the price starts going way down on the purchase.Anything I can't verify that will create a problem for me I will get the property real cheap to handle those issues.

I've verified that a few people I know have been happy with past performance with this company I'm considering, but I want to make sure I'm doing wise due diligence on my own, as well.

I have verified that the property is indeed owner occupied.

Bill you talk about the insurance agent can you provide a link where we can verify or is this Internet talk.

If you stop advertising while you're verifying the application and background checking the would-be tenant, and they fail the checks, you're going to start advertising all over again anyway -- so why stop in the first place?

Be sure you have some way of proving you sent them the person, set up an appointment and verify it with email, etc.

That's usually not the case with investors, they have rentals, you need to dig through tax returns, ARV to verify, purchase contracts on properties not held very long, the list goes on......most are lucky to get a loan and such loans aren't usually gravy deals, more like a PITA.Consider establishing a good lending relationship with someone who works with you and for you, beating them up on a hundred bucks might not be a good idea.My attitude with most were....hey, that's a good deal, see if they can close that for you!

I would however verify that the eviction story holds true as being for non-payment and there were no other problems.

Three days ago, I had to correct a beginning real estate investor who wanted to sell a property that he did not put under contract yet.Yeah I had some wholesalers give me this really detailed report with estimates P&L type sheets, all the deed and tax data, tons of pictures and pretty decent comps.It was an MLS deal so I went on and saw it was UAG when I verified comps.The price they were discussing was great, like <60% of the list.