Bottom line, be sure when you analyze the properties in Auburn you are not just considering cash flow, but also the resale value (assuming depreciation) after your holding period, and expect high maintenance/ CapEx expenses to include covering the costs of heat for the tenants (as many can't afford $100+ swings in monthly expenses, so you are better off paying for it yourself and keeping the rent coming in). 

If he screws up you have all materials ready to go for the next guy in line to pick up where he left off.

Sell price: $234,900HIGHLIGHTS: Mortgage Terms35% down paymentAmortized over 30 years with a 7 year balloon6.5% interestRent RollUnit 1 3 beds /1 bath.

The only way I can think of that I would archive ~$5,500 monthly rent income is:2-story house (3-bed, 2-bath): $3,000 basement (1-bed, 1-bath): $1,5003 indoor parking spot: $200 each ($600 total)3 outdoor parking spot: $100 each ($300 total)That comes out at a total of $5,400 per month of rent.

“Try to find one with a big credit line.

Oh, one more thing: The RM tech support line is the best I've found in any industry.

I say to multiple applicants, I've got several others also pending, I do require if approved full deposit and lease signed within 36 hours. so if that doesn't get completed I take the next person qualified in line. 

Can you get an unsecured line of credit.

Walk away from 2 bed homes.

On line 14 where it states "Application of Rental Income"...it says section 1402(a) is amended by striking paragraph 1.