Updated almost 10 years ago on . Most recent reply
How do you qualify contractors?
Hi, I have a contractor / self employed that I'm having difficulty knowing how to qualify. I've run a credit check (823) and the background check hasn't come back yet after a day. I've asked for the tax return to verify -- he doesn't have it done yet. I've asked for bank statements -- haven't gotten that yet. He's provided personal references -- my understanding is that those aren't that reliable (easy to spoof). What do you guys do for qualifying self employed? And especially validating ability to pay rent. I like to use 2.5 to 3 times the rent number for net income to rent number.