Rent collection and expenses can be managed through a separate business bank account under the LLC, even if mortgage payments remain personal. 

Collected first rent and everything going smoothly so far.

If saving more helps you put more down on the rental AND you want to buy quickly, consider that route.If you are slow playing your next purchase, maybe you go a different route.Personally, I do not mind being more liquid and collecting interest or investing in the market vs paying debt down, but that is me...

It's not just about collecting data; it's about how that data is interpreted and what it means in the broader context of your investment strategy.For example, a 7-year track record with a 28% net IRR sounds impressive, but it’s worth considering how much of that success is due to market timing versus the sponsor's skill.

My impression was that a lot of these people were dabblers, if not, I would love to know how they make money off these because I have no clue.The properties that I did want to purchase were "hot" deals that either had a minimum bid that was higher than my max, or were bid up beyond my means. 

Your biggest risks are tenant defaults and rent collection issues.

I would definitely double check  ALL of the info they provide especially rent collected.

Our lot has some slope to it which increases foundation costs and we were under a mistaken impression on sq ft cost when we started, so we designed something bigger than we needed.I will say costs have come down since then and we are moving forward. 

We're still in the process, so I'll report back when everything is completely up and running, but I'm impressed.  

Impressed after reading, rather listening, to "The Multifamily Millionaire" by Brandon Turner and Brian Murray, I decided to join BiggerPockets.com.