However, if the value is under $300 and the tenant fails to claim it within the allotted time, you may do as you wish with it.

If it isn't then it was not returned within the allotted time frame....- Absolute worst case I have to pay the 1K that I refused to anyway- I'm pretty sure that I saw cars in the driveway when I passed by and thought it was re-rented months ago.Just my thoughts and good luck in whatever you decide.

However, allot does depend on the location and condition of the home.

Process meaning, can I post the 3 day or Unconditional quit notice or does it still have to be the 60 day notice... who has to serve it using the "post and mail" option... once it is served, after the allotted time expires without payment, what do I do next... etc.?!?!

Here's what I do.Set aside 10% (or whatever you determine) more for each of your allotted expenditures (maintenance and repairs, taxes, insurance, utilities that you pay for, trash, debt service, cap ex, etc.) each month. 

I do have a friend that does it in the suburbs of Detroit close to a local hospital and has had very good success with traveling students, medical staff and now they are hosting allot of people displaced by insurance claims(fire, flood ect) 

It takes allot of courage and I wish everyone wishing to make the transition into full time real estate investing would meet with success but we know that is not really going to happen for allot of people who will be working very hard for it.

Can usually allot 5-10% vacancy factor and same for maintenance.9) Class B usually also okay, but needs more attention from owner and/or PMC.

Can usually allot 5-10% vacancy factor and same for maintenance.Class B usually also okay, but needs more attention from owner and/or PMC.

@Scott Nigloschy Analyzing 1 property per day is a good start with that time allotment.