Banks often turn the electric on in their name as well to keep sump pumps running if applicable.

When your loan request is made, what you claim on the application had better be true or close.

At that point if you decide to move forward with the purchase, you can send funds (initial deposit once your ready to close on the property the balance of the funds that would be needed to purchase, after you receive your HUD statement which is a breakdown of all the monies needed and applicable charges for the closing) to your Attorney/Closing agent and order a title search to ensure the person you are buying from is the actual owner and have no liens on the property.

Lots of information will be needed and applications filled out.

I have a hammer, tape measure, and a couple screwdrivers, but otherwise I have about as many tools as you would expect a renter to have who has never been responsible for maintenance!

When I acquire a new multifamily, I immediately set to work getting all the paperwork in order requiring all tenants fill out applications completely.

But sticking with the tried and true formulas when they are no longer applicable is as disadvantageous when the market is performing better than average as it is when the market is performing worse than average.My .02

(I spell all this out in my application and agreement, so it will not be a surprise to a tenant.) 

What are you going to answer on the loan application for that question?

You can accept & manage rental applications, store accounting, collect and track rents, manage maintenance requests with tenants, manage websites and a bit more If you have any questions please feel free to contact me at 415-640-7905.