I would call these weakness:- Rent not due until move in day- No lease- No rental application- No reference check- Accepting unemployed tenants- Not requiring deposit- Not telling them what you expect.

If they are scared off, then that will save me from dealing with their pets.I just wish those with criminal records would get scared off when they read the criminal requirements of my rental criteria; I still have had to reject a few recently based on criminal record that did not comply with the criteria that I gave to them before they even looked at my application form.

Things like stair lifts, grab bars, tub cut-outs, ramps, etc.I had an applicant who inquired about the lift for their son.

Now Paragraph G.7 reads: Before or at closing, Settlement Agent must receive from Borrower cash or other good funds (as defined by Applicable Law) sufficient to pay all amounts shown on the Settlement Statement as payable by Borrower.

.)- General Contractor Insurance (Applicable if your investor is also a licensed contractor.)- Umbrella Insurance Policy (Good extra liability coverage for a variety of situations.)- Refer them to a qualified insurance agentWhile the list above presents a wide array of potential insurance types for real estate investors, depending on your clients’ circumstances, additional policies may be needed.

Your loan application will include all kinds of disclaimers of liability.

I'm having an open house viewing so I thought this would be a good way to screen out anyone that is not worth the time and effort of going into a full application process and also thought it would be a good way to keep track and review everyone that comes through.

Here's a little advice for BP1) Set up keywords for your area and interests so that you're notified when they're used and then start interacting.2) Read through The Ultimate Beginner's Guide3) Go through applicable blogs and podcasts as there are a lot of great resourcesAdvice for REI...1) Study up on what you need to know/do for the 1st step and then do it, then repeat for all following steps until you have completed your first investment then repeat the process and keep learning.

@Chris DeSisto,It might be more accurate to say that a broker shops your application around to lenders to find one who will accept you at favorable rates and gets a commission for doing so.A loan officer works for the lender and is usually on salary.

They said it generally takes 5-8 weeks from application to closing.