Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

This includes preparing the property for renters, pricing it right, marketing, application screening, collecting rent, dealing with unpaid rent and other lease violations, security deposit disposition, inspections, and so much more.

Advantages are we don’t have to furnish anything in the house and we collect the same amount of rent each month no matter how many members are in a house.

Why spend 12% for someone to manage a property in good shape where you just collect rent and respond to an occasional need?

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Below is a link to the rent assistance program in Canton, Ohio; I would collect the current rent from the family and then provide them with this resource for help with future payments. 

Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.

Collecting rent, preserving the asset, minimizing vacancy.

“…states still have authority to require notice filings and collect state fees.”This means you need to check with each state where your investors reside to ensure compliance.Final Warning: Don’t Cut Corners – Follow the Law!

We buy at a discount and pledge our legal right to collect the debt (a collateral assignment agreement) as the collateral for the private capital loan we take out, which is backed by the value of the real estate securing the 1st loan.