Please look into these strategies carefully before making a decision.

The exit plan could change based on your decision.  

Inbox me if you'd like to see it)I contact employers, current landlord & past landlords I make my decision based on all information collected and my qualification standards (Brandon Turner talks about Qualification Standards in "The book on Managing Rental Properties"It's good to have a standard practice of evaluating every applicant the exact same way, so I wouldn't say that you necessarily have to run a background check / income verification on every prospect, just make sure that if you don't, it's because something disqualified them before they made it to that point in your screening process.As for the adverse action letter...

We make lots of decisions where the probabilities and outcomes are not very clear. 

Including poorly thought out responses saying courts hates defaults...LOL.

Once we hit the basement we saw foundation wall cracking as well as standing water from a recent rain and evidence of water seepage over many years.I did go to a very well-respected and well-known local Foundation specialists rather than an engineer simply because I knew one and I had less than 12 hours to make a decision on the property. 

Some want to be in charge of selecting individual team members and have more control over rehab decisions, prop selection, etc. but want to invest in a market where their capital goes further, so out of state BRRRR is a better choice.

@Alex LeeWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Cody M.Welcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Overall I’m interested in investing in rental properties but need help with funding and just making the “right” decision during my deals.