Hi Everyone, So I have completed my first step on purchasing my first property, and have been pre qualified for a traditional low money down mortgage here in Vancouver Canada. My budget currently is $400k, which in Va...

How would you conduct a background and credit check on a foreign citizen.

If the mailing address is the same as the property address but the home is clearly abandoned, you will need to conduct a skip trace to find updated contact information for your prospect.

How would you conduct showings and move-ins?

ZACKERY - When you say the partner will put the down payment money and presumably secure financing (bank, Hard Money, whatever), and conduct necessary repairs/improvements and you are agreeing to pay back the ENTIRE loan amount AND his his down payment (i.e you are gonna buy the property back from him at the price he bought it for today in 5 years ??).  

It would seem odd to have an appraisal conducted after making an initial offer.(2) Relatedly, when should I have the property/home inspection performed?  

So, I wonder if I should set up Texas or Wyoming Series LLC for holding the rental properties and then set up a Washington State LLC for the operating side (conducting rental business).  

Well,the interior looks lovely but,the exterior paint is wrong and it sticks out like a sore thumb.Something darker that goes with the two much taller buildings you're sandwiched between would have been better.You made some mistakes that are going to cost you like they did me too.First,you decorated the interior to please yourself as if you were going to live there,not good.Way ,way,too expensive for the neighborhood.No one is going to pay you tens of thousands extra for having nice taste in fixtures and finishes.You are also surrounded by multi family rental properties instead of lovely single family homes which is where your place belongs if you could magically move it.Honestly,you missed a golden opportunity to make some good money by not just gutting but hiring an architect and redesigning it into a triplex or quad.A good landlord business would have paid you a handsome profit for a modern designed quad with affordable and nice fixtures.Your initial asking price was way too high and the real estate agent should have talked you out of it.Now you have 161 shoppers on Zillow with only a few of them real buyers waiting you out to see how low will you go.Their buyer's agents are sensing the desperation and waiting to drop the hammer on you.I went through this same terrible thing just recently and lost 85k when the bloodbath finally was over.I am afraid you need to prepare yourself for the same thing.If I am wrong about the address,pay me no mind and good luck to you.

This means we definitely conduct formal background checks with credit scores and criminal histories but we also factor in their personality, their sincerity, their facebook account activity, and we go through references with a fine tooth comb.

But you should have been advised FHA 203K is extremely tricky with you financial institutions that are not conducting these loans often.Let me know if you have any questions.Regards,Joe Scorese