@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

I just closed a DSCR loan on a Duplex with Total Quality Lending.

Thanks in advanceDown payment: ~90k (25% downpayment)Rent per month: 2300 (5Bed, 4 Bath) with 2100sqftProperty management: ~150 (monthly)Outstanding loan around : ~268k (7.675% APR) 30years fixedLandlord Insurance: 1500$ (per year)HOA: 1600$ (per year)Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead.

However, I did take issue with the tone of the message, especially the part where they told me how they’d be paying rent.For context, there are no outstanding maintenance or repair issues, so I’m unsure what the tenant is referring to. 

I'm particularly interested in what tactics people have implemented for sourcing quality deals (not the I need 100% financing bs)Would you:1.

Tenant covenants and agrees to pay interest at the maximum lawful rate or eighteen percent (18%) interest, whichever is less, compounded annually, on all unpaid Rent, damages, and other amounts owed by Tenant, excluding late fees, from that date of Landlord’s final accounting until such time Tenant pays all such outstanding amounts.

Focusing solely on numbers often leads to the purchase of low-quality properties.

Some people only want 10-20% of their outstanding lines/debt balances available while the other 80-90% to be in fixed rate notes.

@Benjamin CarverThat was an OUTSTANDING post.

If it were an outstanding applicant and I was trying to get there business i may try to entice them, but generally I'm going to offer things like discounts on rent if they wanna sign for more than a year.