Very simple process, about 15 minutes to fill out forms and e-mailed back.

Thanks for the concerns though, some people do tend to take advantage...So I should show the rent paid full and the FMV of their maintenance or whatever in that category of the Schedule E?

Anything with the letters R-E-O area causing prices to shoot up to market value.

I can use our MLS to set up a hot sheet which will immediately send an e-mail to a client for any new listing that matches our search criteria.

I get e-mails from wholesalers every day.

Once you get them to cooperate you need to order an o&e from the title company.

You will enter that on your Schedule "E".

Good luck Big E

I'll also ask for a schedule E and verify past rent.

You will be inheriting those lease so study them carefully for any problems.If one pays late as long as they get caught up by the the current month and pays late fees it should be okay.The seller will argue for the 1,000 and you will argue for the 800.I would be conservative and use the 800.Make sure you count the 10% vacancy,10% management,30% O and E and then any repairs needed right away into your numbers.You can also calculate your future improvements out year by year depending on how long you are holding.