Applicant financials debt / cash flow question
Hi all,
I'm a new LL here renting my first house (4br) for the first time.
I have an applicant couple moving in together for the first time and have ~6k/mo in combined income. They also have combined debt of about 50k. Mostly in good standing, but some accounts were charged off, others disputed, and some maxed out. They also have a car loan and about 4 kids total from previous relationship.
From their financials, I can tell that both checking accounts come close to 0 every month (over the past 3 months) or even get hit with overdraft. I do not see how they will be able to do first month and security deposit unless they are planning on taking on more debt. It seems like a recipe for disaster, yet they are very nice people and seem very genuine.
Looking for advice.