The score came back low, and the applicant has 7 collections outstanding dating back several years to current. 

Several years ago, I ran a travelling AAU Girls Basketball team and the only parents I had trouble collecting from was a prominent dentist in town.

I knew about guaranteeing the lease by having a parent sign it, but I didn't really think about the other qualitative factors.Ingenious move by sending your wife to collect rents.

Start collecting your keys and study conventional financing first and then move on to other arrangements, you need to understand conventional first!

I spoke to him and that's when he said he needs more time, because he doesn't have time...I have no problem converting to month to month, and it may work best for me if I can market the place again with a new kitchen some time in May...but a MTM with every month likely to be the last month makes it harder to plan things.I think I need to tear up his rent check this month because it is his last month and it's already paid for, and if I start a MTM next month then collect a new - higher - rent.

Her dad is handy and does a lot of the repair and her mom collects rent for us.

Of course the government will want to collect its money eventually - hence the tax liability.

I just want to make sure my understanding got how this transaction would work is correct: He will allow me to represent him as his buyer's agent so I can collect a commission and he can get the property under contract and do his thing.

Basically I have a rental that is 2700 sq feet with pool and landscaping and right now is using $50/mo for water and sewer (higher in the summer) so I budget $50 for any rental smaller than this with less water usage just to make sure I am not undershooting the value.Same for Electricity and same for gas: Call and ask or ask the owner/tenant what the average bill is.Repairs- I budget 5-10% of purchase price, but only as personal preference, you will figure out what you need as you go along.Vacancy-this is more than most would do, but I collected demographic data on all zip codes in Tucson so I knew the vacancies, employment sectors, house hold size, schools etc of my target areas.

For single family homes they charge between 6% - 10% of collected rents PLUS usually 1st months rent for new tenant and about 30% if it's a lease renewal.