@Conrado BalicustoWe utilize RentecDirect.com as a tenant facing portal to collect our rent, deposit it to our bank account, market our properties, screen our tenants, handle our accounting and more.  

Having read extensively on the subject and listened to numerous podcasts, I'm excited to get started.

This is a father-son duo with extensive experience in Charlotte real estate.

NOI, and by extension the cap rate allows people to compare 2 different assets.The amount of leverage an investor uses, and the rate at which he borrows, and the length of time they have to pay back that debt are completely independent factors from the asset.

Now I do know my cash flow number with all expenses, including the ones listed, and I typically end up with a net of $400-$500 per month even though I'm collecting the excess as well. 

Makes sure that you collect your closing statement the day before closing, as otherwise closing will be delayed.

Tying up a desperate and in arrears homeowner with a purchase contract you can not perform on and in which a sale will happen ONLY if you are successful flipping the property for a higher price can cause extensive damage to the homeowners finances, credit and personal life.  

But yes, we put a TON of work into this and we have never received a penny of income until last week (even ended up paying the income tax out of our own pockets) so it's time to collect on the work!

Turnkey operators don't work like that and they are more like a broker collecting a fee for their work (regardless of the long-term performance).

That way, you could live in one, purchase with little down since you can use a primary residence loan with a low down payment, and collect rental income on the other 3 units.