Numbers will differ in every market but there are deals to be done all over the country with the right strategy employed.

Is there some place I can find the bank account and employment details of my tenant ?

Is there a place I can find the bank account and employment details of my tenant?

Your most cost effective and fastest method is going to be to apply some pressure.Good luck!

However, nonqualified use does not include any period of such use that occurs (1) any time during the five-year period ending on the date of the sale that occurs after the last day of use as a principal residence, or (2) any time (up to two years) that the taxpayer is temporarily absent due to a change in place of employment, health, or unforeseen circumstances. 

Your employment needs to be there or a letter from employer that you can work remote for the next 36 months. 

For those of you managing your own property, what supporting documents besides tax returns do you ask for when your applicant is self-employed?

You need to plan to deal with these issues before, they even come up & Develop a plan to handle them.Working with General partner or syndication group like ours, can significantly reduce problems, you face as we handle all aspects of property management and you will gain valuable experience on property & investment management along the way. 10 Multiple streams of incomeYour income from your job is only one stream of income, what you want to have are multiple streams of income.Such as Your Income Your Business RE property 1 RE Property 2 Re property 3In Toronto Canada average property is over a $ 1million and it is growing annually at over 10%, which means it is growing at $ 100K annually whereas the average employment income is around $ 40K only.Consider each real estate property as one stream of income, with multiple streams of income, you can be saving a lot more money than what you are earning from your job or business.

I decided against charging any late fee in the past.She is back in full time employment along with her adult children who are also on the lease and in full time employment but my contact is mostly restricted to her and she is quite unresponsive to my repeat requests that she pay as per lease.

A good tenant is someone who:Has stable employment in a market segment that is very likely to be stable or improve over timeHas a credit history with which you can evaluate the likelihood that they will performPays all the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for many yearsGood tenants are the exception, not the norm.