If there are barriers that limit similar supply and you figure out how to get the housing units online, even better. 

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. 

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. 

@Kainoa Oneha Education is 100% back, whether in person or online.  

@David ShirtsIn my experience, seller financing can be a game-changer, especially for properties with clear titles or when traditional loans aren't an option.

I wouldn't recommend trying to do something like this right off the bat, I think you need to get into the game and really know what you are doing before taking on that level of risk.Happy to chat more over a phone call or direct message if you want more insights or have more specific questions!

@Stuart Bartle welcome to the RE investing game.  

I've seen some conflicting information online, so getting it right from someone who does it would be amazing!

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