BP Community,I am getting ready to list my first ever property for rent and am wondering what the main do's/dont's are that people have found out through trial and error for finding tenants.Any good services out there that you have used to check credit/background of applicants?

@Stephen Jones what is the opportunity to do RUBs (bill back) the utilities, water, and garbage to the tenants?

If mom and dad pay the bills while their 19-year-old lives with them and goes to college, I still run a credit/criminal on the kid to ensure he's not a drug dealer, sex offender, or whatever.

@Bill BrandtThanks for the good feedback!

Thanks Bill.

Furthermore, if we agree to a 50/50 split, we agree in that during good or bad, as well as if we decide to offload the property, but how could I give Bob security in that if we made $0 and the mortgage had to be paid, that he wouldn't be hung out to dry and foot the bill himself, aside from my word?

Then give yourself at least a 20% margin of error. 

After days of communication (and waiting time) with the coverage department, they finally determined that it was an agent error and would reverse our policy to DF3 for the previous time, and we would pay up the difference in premium, and then the water damage as well as loss of rent would be covered through the claim!

I just heard that in the reconciliation bill that may soon be passed, there are several major changes regarding real estate coming.

He presented podiatrist's bill of $6,000 and $4,000 for pain and suffering.