Most people do not realize when someone liens a property its just a lien, but to collect on it they must file a lawsuit to collect that money which will cost them 5x more than what its worth. 

We are considering renting both condos long term and hiring a rental management company to collect rent and manage. 

Make sure to collect the RPD and LBP from the sellers if possible.

Do you have a contract and collect rent separately for each person?

The reason is for that amount, that's all the attorneys would do on a contingency basis, and they only charged a fee if they collect on a lawsuit, The customer then asked if I would pay him a few dollars instead.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

They will think you are running a tenant screening/tenant application fee collection scam. 

@Patricia Via you do NOT have to accept cosigners, so if occupant can't qualify on their own, you can deny for income.The #1 question with cosigners is - how can you collect against them?

For small projects and so for the vast majority of sophisticated investors, the DLT is years away.

Cherry South Bend INCurrent Property Status: This asset is sub-performing, which means the borrower is due for July, and foreclosure is to be referred next month if the account is not brought current.Syndication: Scottsdale REI - III - XXVIProperty Address: 172 Carlson St, Westbrook MECurrent Property Status: The borrower is currently in foreclosure, and the Fair Debt Collection Practices Act (FDCPA) letters have recently been sent to the borrower.Syndication: Scottsdale REI - III - XXVIProperty Address: 13959 465th Ave, Wilmot SDCurrent Property Status: Scottsdale was required to issue Service by Publication.