Banks are taking their sweet times on some homes. 2-3 years of not paying is pretty average in this area...Heck sometimes they just give the house to the borrower!

Have they $1100 to actually buy it..even though i did pick this industry of real estate because of the no money or credit needed aspect.

Figure out the average monthly rent for that unit, take out 35-40% in expenses, then subtract out debt and that's your cash flow.Then calculate the total cash flow annually for that property and plug in your downpay cash in and initial rehab done if any and you will get your cash on cash roi. 

Excluding my high end rentals, my average purchase is about $40K, and average rent is $900.

As most people in the mortgage lending industry well know, the Consumer Protection Act under Dodd Frank has made it more difficult for consumers to obtain credit by trying to “protect” them.

. -- I work in the building industry.

@Nancy RothThe good thing about he IRA industry is that there are ample companies to choose from so the consumer has plenty of companies to go with especially if they are not happy with a particular company.

Adding a small loan (like the "credit builder" loan some credit unions offer) will just decrease the average age of your accounts, which is the last thing you want.The same with new credit cards.What will help is increasing limits on pre-existing cards.

If you fail to show a sufficient income similar to other businesses in the industry, the failure rate increases......why, because if you are a mechanic opening a repair shop and after three years you are not making more than any other mechanic working at other shops in the area, why are you doing it, why be in business, right or wrong, it is assumed you'll be doing what is most profitable for you, and you may just shut the doors and go get a job.

We average 1k in turnover with lost rents and make ready costs, so retention is priority 1.