For off market, make sure you have a lawyer check the contact. 

They are concerned that after we pay for the research to find and locate tenant and their bank account, they may not have anything to pay with.

Many people have invested in RE within a pre-tax and Roth account. 

for $40 it only gives a "rating" and no specifics.is there a service of reasonable cost that actually give me a credit report and details on results of background checks?

Double check with the original lender because some are allowing investors to assume the loan without having it be a primary residence. 

And how do you account for this possibility?

Something worth at least looking into for the original poster is checkout "zen business . com " You can try to make an LLC on your own there before paying a lawyer  Thank you Zack, I'll definitely check the zenbusiness.com to explore the information around opening LLC.Emre

@Dee Mandrekar Yes, definitely check with the zoning department per the advice of others here.

I am going to go check them out for an OOS investor this weekend.This specific area is primarily large apartment complexes and small multis, with B class SFR subdivisions directly North of that.

I like looking at deals and helping others with said deals .. more B to B than  worrying about if I am going to get a rent check..