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Updated about 12 years ago on . Most recent reply

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1,284
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Scott W.
  • Real Estate Investor
  • chicago, IL
231
Votes |
1,284
Posts

prospect tenant is independent contractor Schedule C ?

Scott W.
  • Real Estate Investor
  • chicago, IL
Posted

I received 2012 Schedule E. Shows gross income of $62k but after expenses, $33k. The prospective tenant uses a vehicle for his job so has $20k alone in vehicle expenses.

The person didn't include a depreciation schedule so I requested that.

The rent is $1500 so am concerned if would have enough income. The previous landlord said paid on time.

This year, he provided pay stubs showing $5200/month gross & another job of $1800/month gross again, as an independent contractor.

How do I determine his income? Should I request 2 months of bank statements for his personal account?

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