You cannot afford to waste time.Just make sure your numbers are accurate otherwise you can create a bad rep among real investors. 

Use that savings to move your family to a much more affordable situation.

Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.Hey Akshay,I invest here in the Columbus market and there are some really affordable deals here.

With Austin, Dallas, and Houston becoming more expensive, many are finding affordable housing in Waco.                                                                                                                                                     

If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

Whatever you use, highest mil layer you can afford, 100% vinyl so that it's waterproof, use a good underlayment. 

However, if you're set on managing it yourself there's plenty of websites and apps you can utilize for rent collection.Some may or may not include messaging for requests such a repairs or maintenance, but if you're looking for rent collection there's quite a few options on the market that are affordable.

If he is living paycheck to paycheck, he's probably better off paying off the mortgage (actually, he should sell the house and buy something more affordable and invest the difference). 

In my market you can get an additional unit for each affordable rent unit.  

If you're just holding a single property, many start with online services like LegalZoom or IncFile, which are affordable and user-friendly.