Quote from @Raymond C West: When setting up an LLC, what are most REIs doing? 

One of the biggest lessons I've learned as an STR cohost, marketer & investor-friendly Realtor is the importance of thorough market research and setting up your listing based on data.

Get a good umbrella policy and you should be set.   

I also recommend you provide two sets for signature, so that both borrower and lender get signed originals.2.

We've been doing our prices manually but have a few properties set up in Pricelabs with some specific custom pricing as an experiment to see if PL works for MTRs.

There’s a huge difference between winging it and setting up a system that consistently brings in genuinely motivated sellers.Get a website, focus on the 3 pillars of conversion (look it up), and crush it.

@Tom DeanIf you're set on the BRRRR strategy in the OKC area, properties under $100k are tough to find on the MLS, especially 1970 builds.

Seems like you could very easily come out wasting thousands before even having a set plan in place.

As we got into what was supposed to be just a cosmetic rehab we uncovered several things that set me back by about 5 months and $40K.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.