Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

After pm forwarded my case (tenant did not pay rent) to collection agency, the judgement claim balance is $7,569.33.

In my view, this is WAY worse than a 10% of rents collected fee.

I've been reading on the idea where no deposit has to be collected and it insures rent and damages.

I'm still collecting rent from the tenant, who should also be responsible for any damage as well, right? 

I have her staying in the one br while we renovate the other unit she wants to move into so I can begin collecting cashflow.

@James WiseExactlyStill it in a bank account and collect $500k a year….

This includes listing property, negotiation, drafting rental agreements, or collecting money.From: https://www.propertymanagement.com/property-management-laws-in-minnesota/#:~:text=In%20Minnesota%2C%20renting%20and%20managing,rental%20agreements%2C%20or%20collecting%20money.

Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?

You can have Home Owners and Flood Insurance and the Big Bad Wolf will blow your house down and then, you need to pay a lawyer to try to collect damages from Insurance who may never pay you.