In the meantime learn and figure out how to increase income/savings.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

Too many newbies seem to think they can blindly follow "old" advice in today's real estate market and be successful.Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.What many newbies have figured out is that they can't make the numbers work on rental purchases in their states - like California, Arizona, New York, New Jersey, Washington, etc.What they have NOT figured out is that if they go to cheaper markets, they aren't being shown Class A rentals to buy.

Hi All - I've been kicking around this possible concept in my head for a while now and can't come up with an answer...maybe some outside-the-box thinker can figure something out.

It may also be difficult based on the figures you provided. 

If for some reason they can't get this sorted out by the next payment date, you should figure out how to physically escrow that payment somewhere...this at least protects your payment until you're confident who it is supposed to go to in the future. 

One problem I am having is figuring out what to offer on the property.

I used Hostify and you can work it into the management system to figure and charge all of that for you.  

Building let's you figure out what role you want in the venture because the scale is small, but buying a portfolio gives you no time and experience to figure that out.

I'm finding it hard to believe that Xero doesn't have the ability to do this will all their custom reports stuff.In Xero I can't figure out how to get a view in a report how much the principal has paid down over the selected time period.