This means if your friend offers $500k in “cash” for a property the appraisers think is worth $400k.

(I think the real ratio is about 50 bad ones to 1 good one!)    

If you are legitimately trying to start a real estate business, I couldn't think of worse advice to give you.

Quote from @Russell Brazil: So why do you think your tenant is telling the truth, .....

These were not our top 2 priorities but we're in the process of doing our due diligence and knowing all of the major and minor things people think we should look at will help us make sure we don't miss anything. 

I don't think it's a bad guess, but I also wouldn't expect that to be realized with an investment horizon of less than 5-7 years.

From my reading of the article, I do not think this is the applicant getting a credit report in hand and handing it out to potential landlords.

We think she should but have a feeling she will balk at this.

I was thinking I would need to get a hard money loan to cover that, and it would eat up most of the rest of the cashflow and then I would look to refinance within a year or two.

Their properties are in Kansas City, MO.I can find anything online, except their web site, just would like to know if it is legit.Thank you,