They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

Permitting does take quite some time but you should factor this into your underwriting.

Plus, as you mentioned, you could always tap into the equity later on to continue expanding.At the end of the day, it’s about what fits best with your goals.

I try to get it in ASAP before I put a lot of time into coordinator with potential applicants who might not be ideal tenants. 

Ohio is a great market to be invested into as you can still find positive cash flow (aka the 1% rule) and tons of appreciation here!

Meaning they went into a standalone bank account (not mixed with your other personal funds). 

Some lenders even offer VA renovation loans, which could help if you find a property that needs a little work to maximize rental potential.Before jumping into a deal, check local rental laws and HOA rules.

TO put it in terms, I got to a point in sec8 where we'd come into a unit and say "Oh man REALLY, come on, can't it just be a dead body or something" lol. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

For those that qualify for conventional financing its another negotiation tool, for those that do not its a way to get into real estate but many do not understand what it is they are signing up for.Regarding it being good for an owner, again it goes back to the borrower, if I have a borrower with 800 credit and I control cashflow its far different than someone with 540 credit.