Hi all, I’m curious how soon after approving an applicant and taking a security deposit you require the tenant to start paying rent?

This was considered a win-win situation for both us and our goals (they are retiring and I am just getting started).I secured a cash out refinance in my name in order to pay this family member (and myself) back. 

The securities laws require any publicly-sold securities to be registered, which is an expensive process.  

Were you able to secure a long trail of historical rent rolls before purchasing?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Also, worst case scenario is if you leave secure job, and lose your $80k in BRRRR.

If you want to invest, do it after you secure your home.

Do you prefer It In cash or a cashiers check or do you prefer a different type of payment method

If you do not have a track record then you may need to figure out what you can do to help provide a little more security. 

Defrauding the government= fines and prisonFHA is securing the loan...not originating it.