In looking at a NNN lease property, banks are going to initially focus on the length of the lease term remaining, the credit of the tenant, the location of the property, and the rental rate as compared to the market.

not sure why you have to go to all that length to justify your position.in my mind someone making 300k a year is a complete idiot anyway if they are renting instead of buying specially since your units are only 500k.. thats crazy not to buy and to throw money away on rent.. but thats his problem not yours and maybe your really doing him a favor and he will realize he is a fool not to put himself in this position as he could be an owner with locked in payment and no one telling him what to do with the property or how nice it is etc ec. rents are softening in some markets right now and in others still rising..

In an arm's length market the home could be valued at $175-210k after rehab.

Hello @Suneet Dewan,To keep this post at a (somewhat) reasonable length, I will be brief on each topic.

All of your great information (length of credit, on-time payment history, loan/balance ratio, etc) would reflect in your friend's credit score right away.

Unless someone is willing to go through great lengths to get another person or friend into a space? 

One thing is you could advertise a discount for a longer term tenant (your choice on the length). 

@Clayton Mobley , Thank you so much for your insight - I really appreciate your length input.

I would assume you met with them and let them know what your rental criteria was (credit score, income requirements, employment length and criminal background/rental history).

If you are serious about getting a house in this area then talk at length with someone who knows the area well so you can get an accurate map of each individual neighborhood and the acceptable price range of each.