Then I pay it off with my credit card and collect the points.To find contractors I keep in touch with the realtors who are dealing with foreclosures.

This way you collect $1100/mo until they're able to perform on the purchase and they are getting rent for $900/mo and $200 towards closing/purchase saved up.I have attempted this with a tenant in the past but did not successfully implement it.  

That should exclude buy & hold rentals which is good news.I have a feeling that they are trying to go after the AirBnB type rentals to collect taxes with this bill.

I do collect the ones marked "deceased" and hand them over to a guy who specializes in tracking down heirs.

Kevin and the fund will buy the home and lease it to the buyer until their credit has been sufficiently repaired that they can then buy the house from the fund.This almost seems to fall into the too good to be true pile.How can we ensure that we are not getting involved in some scam that is just there to collects folks' $250 and financial information?

If tenants are okay paying security deposit, full month rent and prorated rent, then I would collect that at move in.

It's always great to hear other opinions and collect feedback, so I'm looking forward to this new resource!

@Bharath Janakarajan I think washer/dry hook ups add to the amount of rent you can collect.

Your realtors must love you That property doesn't collect enough rent to overcome your variable expenses or be worth your time and the headaches

NO MATTER WHAT, get the tenants in question to fill out a 1003 app and have them see a RMLO to give a written opinion of the ATR rule for your tenants.See my collection of Dood Frank - CFPB resources http://bundlr.com/b/dodd-frank-safe-act-respa-tila