Their history of large rental income didn’t add anything to the value because you could buy the identical house across the street and do the same thing. 

Mike, are you saying your bank makes you a standard loan to your LLc, with no income verification from LLc, not caring that the building is old and your personal guarantee being sufficient for the loan?

Both will have verification the letter was actually sent and when it was delivered.

issues are numbers are essentually on a napkin no real verification former flag allegedly inbetween 2 star level franchises seller has been trying to sell / auction property without high enough bid.Impression seller is trying to get away from a sinking shipOutlook: excellent location condition of property is a 7 from a scale of 1-10gross as stated to cover expenses including existing mort.

They have pets (allowed by me, although if I had two identical applicants I’d choose the ones without pets).

In Virginia a transfer to a trustee is only exempt if the grantor and beneficiary of the trust are identical (that doesn't appear to be the case here).

I would never rent to someone with no deposit, no income verification and horrible credit who boasts to me how many times they have successfully rented.

Verification of Rental Property IncomeObtain the following:  -documentation of cash reserves totaling at least 3 months mortgage payments (PITI), and  -individual income tax returns signed and dated or lender-obtained tax transcripts, plus all            applicable schedules for the previous 2 years, which show rental income generated by the             property.• If the borrower has multiple properties, the borrower must document 3 months of PITI for each property to consider the rental income.o If there is not a lien on the property, 3 months reserves to cover expenses such as taxes, hazard insurance, flood insurance, homeowner’s association fees, and any other recurring fees should be documented for the property(ies).o Equity in the property cannot be used as reserves.o Cash proceeds from a VA refinance cannot be counted as the required PITI on a rental property.

Obtain a signed and dated verification that escrow deposit was delivered to escrow agency.116.

The rules and exclusions on bankruptcy are usually identical to the rules involving asset protection.