I think it's important to have a business plan. i havent started my investing yet so take my opinion with a grain of salt but the more I think about it the more complicated it seems. really what im trying to do is just buy multi family properties at some kind of discount. add value by renovations or by purchasing in a down market. then fix it up to my companies standards and get them rented out one unit at a time. some of the things ive been thinking about include financing. how will i finance deals after the first 4 or so when the banks stop lending traditionally. also how much do I need in resurves to cover everything from fees to extra holding costs to a major cap expenditure. i want my business to have a plan so i will succeed no matter what. so i think its important to think about those types of concerns regardless of what type of investing you're doing and factor those in to your plan. im excited to save money for the first deal im only at 3k so far.

Essentially, low barriers of entry and not very high standards. 

Inbox me if you'd like to see it)I contact employers, current landlord & past landlords I make my decision based on all information collected and my qualification standards (Brandon Turner talks about Qualification Standards in "The book on Managing Rental Properties"It's good to have a standard practice of evaluating every applicant the exact same way, so I wouldn't say that you necessarily have to run a background check / income verification on every prospect, just make sure that if you don't, it's because something disqualified them before they made it to that point in your screening process.As for the adverse action letter...

I'm curious as to what the major differences are in your quality of renter.

You are asked to assist our pest control by maintaining a high standard of good housekeeping.

What is the quality of the construction?

While there's a LOT of very helpful information, one does wonder at the motives and quality of some of the postings.

My ideal is cash-flow, so I plan to use the VA loan, but I am open to standard mortgage or private money if that's what it takes to find something that meets the criteria quickly.

I am interested in the BRRR Strategy, long term holding for cashflow, house hacking my first deal, and developing quality relationships with good people who will help me improve as a human being. 

@Brian Dickerson I talked to Rocket Mortgage and they said 6 mos, which seems pretty standard.