This is an excellent idea and something my wife and I do, plus a little more.When we screen someone, we get their credit report.

They are fully rented by the way, so tenant screening/marketing is not an immediate concern at this point, but obviously will be in the future.

I'd rather be able to watch TV on my puter in a split screen while on BP!

Just like any tenant the proper screening is required, a lot of times I have my leasing agent find a reason to visit their existing property. 

Is it in an area that appreciates or stays flat?  

Someone just told me that only realtors are allowed to do the tenant screening in IN, is that true?

Below are my numbers (I ran the numbers as if I am financing the 10k through HUD at a 30 term, although I'm just losing potential interest 2-4%) Purchase Price $10,000.00       Home Value     $47,500.00       Interest Rate     3.5% Down Payment 6.00% of the purchase price $600.00 Amount Financed $9,750.00       Income       Rent     $1,000.00 Other Income     0 Capital Appreciation Rate -1.60% per year of home value $46,740.00 Total Income $1,000.00       Expenses       Mortgage 30 year term $27.08 Taxes 1.05% of value of home $41.56 Insurance     $100.00 Flood Insurance       Repairs 10% of the mortgage $100.00 Vacancy 10% of the monthly rent $100.00 Capital Expenditures 10% of the monthly rent $100.00 Water   Tenant pays $0.00 Sewer   Tenant pays $0.00 Garbage   Tenant pays $0.00 Gas   Tenant pays $0.00 Electricity   Tenant pays $0.00 HOA Fees   Flat Lawn Care     $25.00 Property Management     $110.00 Total Expenses $603.65       Cash Flow $396.35 Cash on Cash Return on Investment 66.06% Annual NOI     $4,756.25 Cap Rate     792.71%Am I missing something critical?

If you plan to actually screen your tenants and manage your property well you are welcome to buy in my neighborhood. 

This is what some doctors think could happen if we don't immediately restrict/screen international cross border travel.

We have sheets for screening the potential worth of a buyer and if they are directly qualified to purchase the property.Now having said that I am in the larger commercial space.