Move on to someone that can pay reliably.Your screening process sounds light, I would use a service like Investigative Screening for a modest fee, paid by the tenant, you will get a solid background check.Bob

I come from an engineering and math background so I think this will be a great transition while I work on wholesaling part time.

I've been very interested in the crowdfunding industry over the past few years, and think that BiggerPockets is a natural place for real estate crowdfunding to evolve - lot's of knowledgeable but low net worth investors here on the platform, with the intellect and background to invest, but lacking opportunity.I will be following this thread, and hope to see some great tips and advice.  

Leverage I will definitely look into but my parents coming from very conservative background want to have everything paid off but are starting to open up if we can limit the risk in case of market collapse.  

You have to be careful and not cross the border with the law regarding familial status.I would stick to financial and credit requirements to determine eligibility for the apt.Do credit and background checks on both and let them pay. the links below will help.www.residentresearch.comwww.youcheckcredit.com If they don't qualify, use this failure to move to the next tenant.

Here in Denver, CO, most sellers seem to know that their properties are valuable, and buying property with instant equity (at 80% of market price, for example) seemed very unrealistic, given the fierce competition for every property on the background.  

Back ground I exclusively do double wides on their own land, rent to own, then seller financing...

I just purchased my first property with no background in Real Estate and investing.

When we get the completed application we verify the income and rental history, before spending money on credit and legal background checks.

My engineering and gaming background has turned me into a serial min-maxer, but I'd love to be able to run some basic and not so basic scenarios by people who've already been through a couple+ purchases.Anyway, just wanted to say I'm glad to be apart of the community, and looking forward to digging in and learning even more.