At least, you could have tried to split it with them, but it sounds like that ship has sailed and I'm glad that they came back good.Whether to charge an application fee or pass the cost of a credit/background check on to applicants is one of those questions that comes up periodically and never really has a perfect answer.Some landlords use it as a way to weed out the tire kickers and people who aren't serious about the apartment, and also people who already know they have bad credit.And in A or B areas I think that can work very well.In C areas, like much of Woonsocket, I think it can sometimes work against you as there may be people who have credit issues who nonetheless would be great tenants because even if they haven't paid every bill on time in the past, they've always prioritized their rent.So I think you need to be flexible with the area and also what the state of the rental market is telling you, and, related, what you see your competition doing in that area as well.

This strategy is more flexible, as you can utilize whatever terms work for each side.

I think you're probably paying $150-$200 for the water valve and then $350 to $750 for the insurance policy that comes with it.For $500, you could probably replace all the shut-off valves and flexible connectors (like from the wall to the toilet, or from the wall to the sink faucets), in most reasonably-sized rental houses. 

But there's a number of ways to mitigate some of that risk - particularly if you have a buyer who's willing to be flexible. 

The key here is flexibility.

The key here is flexibility.

They come with more flexible guidelines, are often more collateral focused, but also come with higher rates/fees. 

We have been educating ourselves since then; reading books, lurking the forums and listening to podcasts.I am a stay at home dad, so it gives me flexibility as far as looking for deals, making phone calls and analyzing deals. 

My long term goal is to ultimately build a portfolio of cash flowing properties that will allow me to spend time with my future family (getting married in June), have a flexible schedule, and travel the world.I am currently trying to decide which strategy is best for the SLC area, as I would like to keep my first deal close to home, even if it means sacrificing a bit of profit.

I would be more conservative on my estimates which it sounds like you are and understand you may need to be flexible on the sale.