The key it seems is to reduce vacancy.

I am have been advising my clients to stay away from them.Family Dollar had gotten away from only one dollar items to sell and was mixing in high priced items which started reducing their profit margins.

The sellers (of estate) need to push this property fast and just reduced the price from $520,000 down to $405,000 and wont really budge as they have to pay a REVERSE mortgage off.

30 yearIf you want the cash flow and plan to add many more properties.15 yearIf you want to have the house paid off in 15 years to reduce leverage and have a higher cash flow. 

@Derek Leblanc,the seller needs to either, know, like, and trust you before you will get what he or she feels is sensitive info that you are asking for, or they need to have their hair on fire and are extremely desperate to sell the property.Imagine if I asked you;"What's your Social Security Number, date of birth, Mothers maiden name and any medical Issues you have.Without the proper context, this would create discomfort, and come off as extremely invasive.

But it's understandable and you have to realize that if you buy a property with a bunch of problems, you either have to fix them all right away (which contributes to your capital outlay and reduces your "% rule" amount) or you fix them over a number of years and just consider it part of ongoing maintenance.Real estate is nice and flexible so different people can do things different ways. 

It's helpful to get the name of their commanding officer on your application should a "straightening up" call ever need to be made to them.For the most part (and I come from a long line of military folks, including having a youngest son who is a Navy veteran and a long history of working with vets in my local VA Medical Center) we've had good luck renting to veterans.  

The seller is even willing to reduce the asking price because of this issue.

Some short selling banks actually reduce the commission paid in dual agency situations.  

I do think it helps reduce the amount of tire kicking tenants that apply.How does everyone run their background and credit checks?