My main concerns would be:- corruption- collecting rent (what to do when tenants default?)

This is because insurance proceeds are the path of least resistance in terms of collection (more on this below).

Budget 5-8% of gross collections as maintenance then tack on the property managers margin to give yourself a better idea of your management cost line.

Even if you can track down their bank accounts, you can file the garnishment once and collect whatever is in the account.

In year 1 I would collect about $17,900 in interest and $3,400 in principal.

Quote from @Denise Evans: The law changed it to 4 years after the first auction, or the first sale by the tax collecting official.

We have a collection process through our management software we use.5) small dollar amount in Iowa I'd say go for it yourself.

Current systems and tools:- Assistant to manage payments, invoices, ensure rents come in and chat with tenants for issues- Melio for vendor payments- Baselane for banking - separate accounts for each rental and deposit- Google sheets for Income and Expense reporting- Azibo for rent collection automation with late fee automations- Drive for my leases, SOPs, and documentations of tenants move in/move outGoals of improved system:  ensure I have a read out of how each property is preforming month over month, check on big expense items, ensure vendors get paid, mortgages get paid and rent is coming in, generate APY on float and savings for any big CapEx that comes up, and make my life easier come tax season.Is there a single software people use or what do you do for your business systems to optimize all of this?

What if they have collections or judgments?

I know Keith personally I would be surprised if he had a collection situation that was not perfected.