But I need a portal where I can do the following -Customize the tenant application  ( Cozy does not  allow me to customize)- Have tenant Upload Pay stubs, DL, etc. 

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

All that cost's $ in labor time and systems.     

Vaughan, did you tell him he said he would do it for free?  

Those holding cost will certainly add up over time and kill any cash flow.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

@Jessica Seppo,Many people take the cost of an LLC and funnel it towards more insurance and an umbrella policy.

Anyways, I might take advantage of the free trial.

As Bill mentioned, the best way to decide would be to get a free cost/benefit analysis to help you determine if you would benefit.

Second pro is that you get to lower your living expenses or live "rent free" by having your tenants pay for your mortgage payment.