Maybe the rents will be higher then you assume (tenants likely to leave, prepare for turnover)... maybe they are lower then what you think market value is (opportunity to add value managing the property)... maybe the landlord pays utilities and you'd like to sub-meter them out (will affect rent rates). 

Another way is estimate cost of rent and eviction proceedings and deduct from price .This is not a normal situation and it might be that the landlord is accepting rent in cash to avoid taxes.play hardball and prepare to say goodbye unless the above mentioned risks still make it a good deal 

.- Since it was tax time, where to get their tax returns prepared for free.- Sample copy of the lease.- Picture frame with screening criteria so everyone can read it.- Applications.Rather than tables, I just had a couple chairs and some clipboards. 

I agreed to talk to her father tomorrow to discuss & I want to be prepared. 

For us, 10-12 days, but I think 2-4 weeks is a good estimated time frame to be prepared for. 

Then you need to get landlord insurance, and generally prepare your house for a rental.

I'm prepared to accept the risk that well less than half will turn into deals. 

Anyone can prepare an ad for a property.

Not a big deal, but that may take some time so try to be prepared ahead of time.

. - Get started on Postlet, to prepare the rental ad - Publish the rental ad in Craigslist, Zillow, Trulia - Start receiving calls.