@Ryan Marrero I have thought about doing Airbnb for one of my properties in Northern NJ, but I realized when I received my first customer request to stay in my property for three nights, that hadn’t set up the logistics and business model to make it run on auto pilot.

@Christa S Rickard I'm sure you could operate at 21% but it suggests that you are on auto-pilot...letting the roof rot of the place with insufficient reserves...I'd like to take a look at the actual property performance if you're inclined to send it over...

@Brad De VriesSome considerations:1) If you are planning to use a conventional lender, your parents would have to "gift" the down payment to you as you cannot borrow the down payment (it's your "skin-in-the-game").2) Capital Gains tax is a federal mechanism.  

They may charge you a small fee, where a full set of  plans with structural and mechanicals will cost you 12-15k these should only cost a few hundred. 

So a seller could lose big time if you cite some technicality and wiggle out of your putative escalated offer.I can easily see a seller refusing a bid on just the existence of an auto-escalation clause alone.

For that matter, what does the owner information tell you anyway as far as any type of strategy is concerned.Is your tool grabbing tax data from county websites and auto populating?

The only thing right or wrong is the timing and mechanism. 

Using a PM does not put your investment on auto pilot it gives someone else the responsibility of managing your investment which can be extremely risky.

A lien is a payment obligation that has been attached to real property -- either through the recording process (in the case of a mortgage, deed of trust, mechanics lien, etc.) or pursuant to local law such as by the entry of a judgment, issuance of a water/sewer or tax bill, etc.A foreclosure is what the lien holder does to enforce the lien in order to obtain payment -- this is done through a forced sale of the property.

Again, this requires the discipline on your end to stick to the schedule and you can set up auto-payments if necessary.