These borrowers who, in reality, could not actually afford these mortgages and were not financially literate were crushed under the weight of all the debt and forced to file for bankruptcy, while the mortgage brokers and banks collected their fees.

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.

We are on the minimum plan with four rentals and don't see the value in paying $180 a year to collect rents, payout rents more than a week later, and screen tenants when we have turnover. 

If the PM is unable/unwilling to collect from the tenant, demand they compensate you for allowing the expense to occur.

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.

Since he collects so much from "training fees" he can probably handle a few Due on Sales being called, But Can You?

We collect payments from property owners and distribute them each month.

I collect my rent via cash app. 

You'll need a reliable network of local professionals (plumbers, electricians, handymen) you can trust.Hiring a Property Manager:Peace of Mind: They handle day-to-day operations, tenant communications, and legal compliance.Local Expertise: They understand the local market trends and rental laws in Colorado Springs.Cost: While there’s a fee, many find it worth the reduction in stress and time commitment.Lessons Learned from ExperienceBuild a Strong Local Team: Even if you manage the property yourself, having a dependable local handyman and a real estate attorney can save you headaches.Leverage Technology: Utilize property management software for rent collection, maintenance requests, and tenant screening.

If you're more of an audio book person, you can get the whole BiggerPockets collection of ALL their audio books + podcasts ad-free for only $100 (both Start with Strategy and estimating rehab costs are included in this membership + 30 other books)!