But to answer your question, yes I brought the house to him through my agent, and I will be putting in lots of sweat equity, helping manage subs, as well as splitting property management, tenant screening, etc.I would have hired him as the GC anyway, so I think he sees this as an opportunity to put some money to work while helping me get into my first deal without the traditional challenges of getting financing (which I understand can often be the biggest obstacle).Do you have any suggestions with regards to how to handle the financing in this situation?

I understand your position, but...A $1,200/mo tenant who is properly screened and placed in Sc is a LOT less headache than a $500/mo tenant.I only have one property close to that ($1,400/mo) and that tenant has been in place 5 years and never been a day late on the payment.Now on to the tax rate.

(Jeff White has his systems dialed in for screening rent by the room tenants) As your income increases with your new job and expenses decrease from your tenants paying your mortgage, you will be able to save up for that next SFH 12-24 months down the road.

This includes tenant screening, writing leases if you don't hire a PM, managing rent payment systems, filing as needed with the county/city, maintenance and upkeep and how to out-source jobs that you don't want to do or can't do, scheduling, maintaining income and expense records, and the list goes on.

Ensure your lease is top-notch, screen your tenants and you’ll be - to the greatest extent possible - covered.

She was rushing the landlord during the screening process, clouding judgment, and maybe something got missed.

The seller agreed to a showing, the prospective tenant loved the place and cleared screening with flying colours. 24 hours later she had paid first and last month's rent in full and signed the lease.

The 'rule' is as everyone else has stated just a guideline / quick screening method so that you do not waste your time.

They are being screened to rent YOUR property.If you feel like escrow accounts are necessary or you have some sort of law to abide by in your locale why not just set up a separate account at your bank?

Viagra was originally designed for cardiac and blood pressure issues and they found it had a great side effect :D I can't comment on whether the price of the course is worthwhile as I don't own it, but it seems the guys who are pushing this have carved out a great way to double close without all the hassle.