Hi All,I have two door's and am collecting rent on different apps like venmo and cash, but I want to open an llc and collect rent on through that.

Hide you money, drugs and valuables off site.If you do your own opens, do it for a couple of weekends.Once you have someone interested, you fill out a purchase & sale agreement, collect an EMD, open escrow, order title, verify ability to close with the buyer's lender.

This includes everything from tenant screening, rent collection, and maintenance to managing budgets, ensuring legal compliance, and addressing tenant complaints.

Do you rely on local property managers, or do you have your own systems in place for things like maintenance, tenant communication, and rent collection?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

One particular lender and when I say Lender, I’m talking about the individual loan officer that we have worked with in the past had a number of his Lending policies changed so we had to start using someone else when he did not have a product that fit .I realize that a number of the replies have come from lenders themselves so they’re looking for faithful customers.

They do say they have a one time fee for debt collection and I suppose negative reporting with a 30 day delay and dispute process. 

You can refer out the deals that you don't buy and collect a commission.

Just make sure you collect more data before making a decision.

I’m just focused on discovering FOR LATER if it’s a criminal offense for the lender (and borrower) to inflate the payoff for the sole purpose of collecting more $ especially now that it never closed and the prior lender refused to even assign me their lien and the borrower had already used some of the money so OFCOURSE the lender wouldn’t send the money back or they’d be out the extra $ they sent to the borrower that was already used.