Under your business model, I'd definitely still run a background check on the other occupants.

Two years ago I decided to make a change to my business model.

In the context of this topic/thread, the new crowdfunding model is 'find 30, 40, 50 not-so-rich guys, put deals together between 20 or 30 and move on. :)' or maybe 'find 300, 400, 500 guys with $1K, put deals together between 200 or 300 and move on. :)'

Don't tell me you are dating a French model.

But the idea is still the same.3) It won't work in CA or high price markets that don't cash flow; 4) you are limited to the number of houses under fannie mae; 5) Please let me know what is wrong with this model, and if you have a better model, or other ideas, please let me know.

I created a shared housing model that is producing very well.

That's awesome and I can't wait to hear about how that hammers out.You've probably come across the 50% rule just listening to the podcasts, but check this video out anyway, I use this model when evaluating all my prospective deals:

Having proven models in place like the 2% rule, 50% rule, 70% rule etc, made it so much easier for me feel comfortable jumping.There is also the Deal Analysis sub-forum where you can post the details of a prospective deal you're looking at.

Follow and model what the most successful guys in the biz are doing.

Too labor intensive for my business model, so I pass.