In that situation you have no recourse, so you would want a property that is paid in full or some form of proof the mortgage is paid each month.Unfortuantly, you cannot know for certain if a tenant won't pay and you will need to pay the landlord even if the tenant does not,  and you need to be able to cover some if not all of the repairs so you will want some money in savings when entering into an agreement.  

Either they can identify fraud with available documents and / or negotiate with the mortgage holder to resolve this.Paid by check yes, not much proof of early years though as bank changed.New modification does state no payments missed though.What do you think he the fraud could possibly be?

I've also read that sometimes an agent or the bank that owns the property will require proof of funds.

In my quest of researching i am finding a lot of good deals on people either selling their used stuff at a very good price or people getting rid of brand new stuff that they never used due to not fitting or not liking the look.My dilemma is that most of these things are paid by cash so how do you guys keep a track if you do the same and what records to keep so that if/when the audit comes up, i am able to show proof of it.Thanks in advance

Their numbers made sense because they backed it up with proof of recently sold comparables.

Ask for the proof in witting. 

Are you a cash buyer with solid proof of funds? 

(CHAP, MD Historical Trust, etc)Sound proofingLandlording 101 for the student and young professional marketFiguring out what kind of Home Sense insurance coverage I needTenant proofing units, but also making them attractive and differentiated on a reasonable budgetFiguring out the right degree of home automation (wiring/full unit audio etc) my owner's unit , public/outward facing cameras, electronic locks etc (Consulting firm?

Get them on your side- explain the process and proof needed to get rid of the other tenants, and make them see that it isn't going to happen quickly.Most likely, the upstairs people need to put their adulting pants on and grow up.

You will need actual proof you were out by the 2nd as you claim.