He was saying something about putting it in the local paper and wait for a response from missing heirs?

These expenses are including, utilities if you pay for them, maintenance, yard care, pest control, insurance, advertising, property manager etc etc.these often come up to well over $3000 per door - depending on the market..$750. sounds to low for all expenses.

Almost half of my portfolio has Section 8 tenants in it and as non section 8 people move out i try to move in more Section 8 tenants but i make sure my property manager screens them THOROUGHLY....not with just what's on paper regarding credit report, income and past criminal activity (If any).....I make sure my PM screens to make sure they have no pets, no evictions, no smoking OF ANY KIND and no felonies and we still get TONS of people calling...the biggest problem becomes picking someone from who is left.   

With short-term rentals, you are responsible for those things but also things like pool care, lawn care, pest control, electrical, cable, furniture maintenance, dishes/towels/utensils/etc, cleanings, (you see where i'm going with this), essentially you are operating a hotel. 

And yes I have found that in just about any of the hot markets at the moment they seem to cash flow well on paper, but maybe are tending towards the sketchier parts of town. 

If it's a rusty POS with matrial piled to the roof of the van and a ream of paper on the dashboard with old mc donalds wrappers.

Sure it doesn't look as good on paper but looks like you are quickly finding out that there are serious trade offs as you go down in asset quality.

Do the papers the bank signed with us mean anything?

All that being said, what looks good on paper often times might not be what it seems if you have issues finding quality tenants or are dealing with an extremely old building that requires a lot of maintenance/upkeep.

Just put our mail out closing papers in the mail for our property!