Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.

@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

At a basic level there is no one set way to structure a partnership.

Also, set clear expectations with tenants upfront so they know how to handle issues like maintenance requests.How do you plan on finding all your contractors?

If you need income that'll be a certain set of options if you're trying to free up time and not be responsible for property management because you're planning to travel in retirement that'll be a different direction.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

I think the answer to your question depends on the type of tenant you would be targeting.

Our target towns are not in the urban centers but more suburban towns with good schools are moderately priced homes for families.

Quote from @Joseph Hossenlopp: Quote from @Matt Mertz: In addition to cheaper prices through Minoan, they set up a site for your property with affiliate links in it. 

I know the founder and know that they've set out to build a platform that takes the best features of sites like Furnished Finder and Airbnb and leaves out the clunkiness and annoying policies and practices.