Looks like a pretty solid deal if you like the location.

They are both college students who also work.Person A is 20 years old, has a FICO score in low 600s, no rental history, has been at retail job for six months.Person B: I haven't run his application yet but he seems more solid than Person A (he has 2 years of rental history, more work history). 21 y.o.Combined, they make $100 more than my minimum income requirement for this rental.

Too many people in this business look up after 20 years and realize they over paid after managing debt for a bank and ikts too late because you wasted precious time that could have been spent on a beach instead.

The only way to really take risk on these buildings is to assume you have a solid set of bones or go by outside condition and figure everything inside needs to be replaced. running numbers on anything but this would be pure un educated gambling.

You need a solid plan that everyone sticks to and make sure you know your partners well if they are going to be involved in the deal and not just silent investors.

Go in with solid renovation cost numbers, ARV comps, etc.

These types of things I do point out and tell them if I have a plan to upgrade at all and what that process might look like.I feel that I do not have the time to waste to neglect items in a property not working how they should.

Similar to Goldilocks, I think I'm leaving a trail of wasted money on the ground.

I never thought of FSBO, but that could be a solid idea.

When you back out, this wastes the agent's time and hurts his/her reputation.I would recommend putting a local team in place that can look at properties for you and put in offers after you see the properties and know you want them.