It's not just about collecting data; it's about how that data is interpreted and what it means in the broader context of your investment strategy.For example, a 7-year track record with a 28% net IRR sounds impressive, but it’s worth considering how much of that success is due to market timing versus the sponsor's skill.

@Conrado BalicustoWe utilize RentecDirect.com as a tenant facing portal to collect our rent, deposit it to our bank account, market our properties, screen our tenants, handle our accounting and more.  

We don't collect for submissions, that's all free for our members. 

Now I do know my cash flow number with all expenses, including the ones listed, and I typically end up with a net of $400-$500 per month even though I'm collecting the excess as well. 

Makes sure that you collect your closing statement the day before closing, as otherwise closing will be delayed.

But yes, we put a TON of work into this and we have never received a penny of income until last week (even ended up paying the income tax out of our own pockets) so it's time to collect on the work!

Turnkey operators don't work like that and they are more like a broker collecting a fee for their work (regardless of the long-term performance).

That way, you could live in one, purchase with little down since you can use a primary residence loan with a low down payment, and collect rental income on the other 3 units.

Let her know you'll send her to collections if she refuses. 

To avoid opening a bank account and following all the rules that come with collecting and holding a security deposit I figured id just treat last months rent as security deposit.