You must learn to communicate with possible residents, ethically and legally screen them, juggle the calendar, create leases and collect rent.

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.

Buildium would help with the expense tracking but also enable PM tasks such as lease renewals, maintenance requests, rent collection, etc.

Gross income is what you collect from customers.

Hi @Allen Moore, I’m my experience with renting SFH’s in the Chicago suburbs, section 8 tenants have worked out way better for me than market rate tenants in terms of the duration of the tenancy, the rent level and the collections.

That is impressive with attaining over 100 doors & starting out over there 

Someone more experienced may chime in, but my impression is that at a certain point, you're putting less in reserve for expenses/maintenance because you've already got a chunk of cash stuffed away, and the likelihood of "all" or even a high percentage of properties having major repairs all at the same time is much lower than one or two lower end properties while we're starting out.

Even relatively modest investments in these areas can yield impressive returns.

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 one is controversial because they will do a deal, and you may collect a fee.