It has been about 15 days since I sent the first bills and I have not received either payment yet.

The concern with out of state investing is your money goes to down payment and property management.

Property to purchase would be a STR at $240,000 - so we would need the 20% down payment and we are looking at different options as the source of the funds.

Quote from @Miki Jovanovikj: Hello BP community, does anyone have a good referral for a foreclosure attorney in state of Florida due to a buyer defaulting on the payments.

Profile here for reference: https://www.biggerpockets.com/users/amyb289It stood out as oddly out of place to me to the point where I recalled it and was able to dig it up tonight.Anyway, again...

With such low rental yields, the return on investment (ROI) and cash-on-cash (CoC) return are negative when factoring in mortgage payments only, not including any other factors.In this market, it seems almost impossible to make a profit using traditional rental property investing strategies.

I can have them just setup an ACH for the monthly payments, etc...but I feel like this would be easier with some automation, and there just must be something that's already setup for this.

With the rise of digital real estate, there are now many more options available that make it easier than ever before for potential tenants and landlords to find each other.

Our payments are around $950 and the local rental rates are near $1500. 

Use hard money loans to finance most of the purchase price, preserving your cash for down payments, renovations, and reserves, allowing you to handle multiple projects.