I always tell them that I am required to follow a process which includes an application, credit and background check.

Many lenders now require you to submit financial statements to see how your business is performing as part of the underwriting process for a loan.

Always research local pricing history and trends and speak to brokers knowledgeable in the immediate neighborhood to understand whether you have spotted a good deal.Not Being PatientUnlike shares in the stock market, where you can make a profit within days or even hours, real estate requires quite a bit more patience to start seeing gains.

https://www.rentspree.com/blog...Landlords and property managers are required by FCRA regulations to legally review a tenant’s credit report (with consent) for the sole intention of determining an applicant’s qualification to rent.

Just remember that you can set up lease with LTR that requires the renter to do everything ( replace a door lock, bulbs, take care of the garbage, etc) except for some major things and structural problems.

Note: I'm only planning to do 1031 down the line and will be materially participating to meet the >100-hour IRS requirements.2. 

Sales price appraised but the rent income did not meet the 1:1 requirement. 

Normally it will require large amount of work or renovations. 

Many also have a minimum on the lease period, such as requiring 6 or 12 month leases.

Those loans typically require 10-20% down depending on if the property needs any rehab or not.