Prospective Renter's income is mostly cash
I have (2) prospective tenants for a property of mine. One tenant works at a restaurant and the other at country club. Both tenants claim that most of their income is cash and that they can not meet my minimum requirements for income. I require 3X the monthly rental income in gross salaries. Both tenants have a good credit history and no previous evictions. My properties require security and first months rent at move-in. The tenants are willing to offer last months rent as well at move-in as an added incentive to compensate for their particular situation. We are offering them a 1-year lease.
Any experiences with this type of situation / potential issues?