Plus, they handle online rent collection (a necessity if you don't have a property manager!)

Microsoft Excel, and most budget or free online bookkeeping isn't going to cut it in this situation.For the rental properties you own directly, I often tell clients and prospects that a P&L in Microsoft Excel is just fine and a balance sheet is not necessary for tax purposes. 

I would pay one of them to review the full details of the transaction and give you a road map of how to proceed before going any further.

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

Andy Sirkin (fantastic legal team from SF) has a library of free online articles and a set of agreements to purchase, to help you on your way to become a Subject Mater Expert. https://andysirkin.com/article...Elizabeth and Christina (The Rental Girls) have done a great job pioneering the shared ownership (TIC's) model in Southern CA. 

outcomes are on you, the investor.you may want to review these threads to see what others experiences were.https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/12/topics/1215726-break...

They take weeks reviewing things and won't call you or tell you when they have reviewed things so you are constantly calling and then waiting for them to find your file.

Thank you  My recommendation is to sign up at paperstac, debexpert and some of the online sites that sell loans as well as join some fb groups on note investing as people push loans through there as well.

Thank for your help Connect with a great property manager or use one of the free online tools to estimate rents.

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