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.

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.

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.

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.

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

.- When paying with cash, you have fewer closing costs (no lender fees) and fewer holding costs (no interest payments).

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

I took a 3rd loan of $45,000 from a family member on a 36 month non-recorded loan to help with the down payment costs.

It’s in a trust there’s no mortgage value $650-$700 wanted to take out $150,000 for renovation and down payment on another rental.