Trust invests the cash to make the payments on the installment sale to the seller.

A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

I've been able to afford my payments so far without much issue.

But for large multi-family, that amount hardly covers your legal fees for one transaction, let alone down payment, due diligence costs, lender fees, other closing costs, etc.

The tenants, who were always good, fell on hard times and could no longer keep up with rent payments. 

Get listed on all the OTA’s and a direct booking site, use good management software like HostAway, use dynamic pricing software like pricelabs, use WiFi enabled smart locks like Schlage encode, use an email capture system for guests to login to WiFi like stayfi, use those captured emails to do marketing for your direct booking site, and automate scheduling and payments for cleaners and maintenance.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

Depending on why you are evicting the tenant, Illinois has 3 different notice periods: Five Day Notice of Eviction The Five Day notice is only used for non-payment of rent.

So give those folks the choice...go pick veggies or lose your welfare payment.

This likely means fewer issues with payments and property upkeep.