The reason I say this is  a double close, is because we would require the seller to be open to seller carrying the amount that we helped cover as a second note against the property.Ex. 1st transaction: DSCR covers 70% we help cover the remaining 30%.......close transaction.2nd transaction: Title opens a second escrow account and creates a 2nd lien for say 40% against the property so we can get our funds returned.

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

Deposits were in my account. 

What is a good software to use to keep inspection,rent collection organized Thanks

I have liquid funds ready, but I want to make sure this is worth my time compared to the 5-6% cap rates I've seen on multifamily units in South Florida, which are close to what I already get from CDs and high-yield savings accounts without the hassle of property management.I'm also hesitant to invest out of state since I'm new to real estate and don’t want to make a costly mistake.

Keep in mind this doesn't account for rehab, repairs, and reserves necessary to maintain rentals.

To me, any liquidity qualifies: bank letters, bank statements, stocks in an investment account that covers down payment, etc.Today, I got a letter from a hard money lender saying the buyer is approved for 1/2 the listing price of the property.

You have a leg up on most in that you understand regiment, organization, responsibility, and dependability. 

Opening a bank account is one, filing and paying taxes is another.   

I managed it with spreadsheets and notepad on my phone only and used no accounting software the most part.Would you guys find more use in a service that replaces hands quickly or just having an app on your phone and computer to manage your flip projects that's visually appealing and easy to scale with?