I always insist that every opportunity for additional income should be explored.By implementing these strategies, property owners can maximize unit potential and create a more profitable investment.

Double the cost of that house and double the rate to 7% and its like $4,000 per month for the EXACT SAME HOME. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

They've been claiming for months that they are implementing a new mortgage servicing platform.

What would a fair cut of the profits be?

The answer to this will come down to comfort level, funds available, and strategy you are looking to implement. 

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.

The masterminds often encourage students to finance the new-car like entrance fees on a credit card, on the promise of just a single deal covering all the entrance costs.