Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

If you have more than one LLC, each LLC should have its own set of accounts.Checking: Collect all income here, then use it to pay bills, the mortgage, or maintenance.

1) Yiu REALLY need to know what CA will  allow you to do, I don’t know, but the state may say too bad landlord, you lose. 2) Assuming your attorney (Or you if you’re able to decode the laws that relate to your situation and are willing to go to court in front of a judge against a “sick” kid.) think you have the right to collect the rent I’d give them two options. 

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.

Why spend 12% for someone to manage a property in good shape where you just collect rent and respond to an occasional need?

Collecting rent, preserving the asset, minimizing vacancy.

We have done extensive research on both SCI and M.

“…states still have authority to require notice filings and collect state fees.”This means you need to check with each state where your investors reside to ensure compliance.Final Warning: Don’t Cut Corners – Follow the Law!

Advantages are we don’t have to furnish anything in the house and we collect the same amount of rent each month no matter how many members are in a house.