and weigh how realistic their plan is and if they are prepared to be more responsible with their spending in the future.

We are preparing to rent our newly acquired house to students in the upcoming semester.

Personally, regarding your statement "I'm trying to find background info on prospective tenant before showing them a property", I'd have the prospect "self screen" with a well prepared, written process.

Question for you, for your first 20 unit investment what preparations did you do or take beforehand?

You'll get through it, learn valuable real-life lessons, and be better and more prepared in the future.Best of luck.

Here's a few things to think about as well.1) Commercial space takes a lot longer to rent generally, be prepared for it to sit vacant 6-18 months depending on the vacancy rate in your area.

If the tenant is paying close to market rate, leave it occupied and just be prepared to renovate when they leave.

While preparing for closing, the title company finds out that the seller who was being foreclosed upon, sold the house the day before the auction.

I have experience both as a house renovator and 30 years as an attorney preparing and reviewing contracts.

But regarding your own personal residence, be sure you are prepared for the heat of an inland climate.