Note my late fee is high enough to be a penalty, but it is not high enough to compensate me for effort to hunt down delinquent rent (my time is precious, I expect to be well compensated for my time especially if I am doing something as undesirable as collecting delinquent rents.  

While I believe anyone can joing CU's (unless they choose to stay private) they could have special considerations, like government employees/servive members where collections are a walk in the park so to speak.

It’s always a good idea to consult with a tax professional who can look at your specific situation and optimize your deductions.Best of luck with your new condo!

I've never used Cozy.co before, but it sounds like a lot of the investors in the area use it to list their properties, screen tenants, collect rents, etc. 

It is often collected at the County Recorder of Deeds acting as an agent for the Pennsylavnia State Department of Revenue.

I do all of the work except for contract review by broker and they pay for the pm software and overhead of having a physical location for the brokerage (although rents collected and owner payments are all done online).

@Brian Ploszay definitely had some great insight.To expand on his first point, I think a "triple net lease" would be a good model to try to follow.Also, make sure that in the event your optimal tenant (drug rehab) were to move out, you have multiple exits to help you sustain any market downturn. 

I am thinking this is the play... sit back and collect the rent two weeks early from the seemingly excellent tenants. 

But, It’s truly is one of the three reasons I use a PM for the rest  1) I don’t want to screen, I don’t really like meeting new people.2) I want to stay legal in my screening, notices, demands, etc etc3) They raise rents more and faster than I would and collect more in late fees.They literally pay for themselves with increased rent/fees and I get the legal and people screening for free. 

I was not aware on point 4 regarding collecting rents.