We’re one ofthe few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must =3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then takingseveral days to submit.

What would it take for them to compensate you to walk away from that purchase after all the work, time, effort, finances you've put into the deal? 

Late after the 5th..

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

After this it's a matter of execution.With respect to finding he property, there are several ways.

Still fairly confident as Taxes are up to date and no liens recorded.

What happens if you get sued 1-2 years after you lose all that data?

After that one meeting the engineered plan was recorded at the courthouse and we could sell individual units. 

Total gross rents are a bit over $16,000/mo with a little over half of that being net cash flow after ALL expenses (yes, I include capex, repairs, vacancy too).So I suppose the average per door is near $700 in monthly net cash flow.

Purchase price: $51,000 After repair value $140,000.