Paying rent will force you to maintain a personal budget, it will ensure your property produces the income necessary to operate the property, it creates a savings for you as a landlord so you can prepare for the next investment, and it shows how the property performs as an investment in case you have to sell.You need two accounts: checking and savings.

He performs all appropriate financial reviews.

@Lisa Jones well, it sounds like you appreciate and are willing to pay for above average performance:)

My DST's are through Capital Square and they sent me a document that was titled Cost Segregation Studies & More and it was performed by MS Consultants, LLC. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I tell them who I am, how and where they can pay rent, how they can communicate with me (ordinary vs. emergency), and that I need to perform an initial inspection of the property within one week.

However, it’s true that on your watch your properies will perform better.

Although I suppose if their rentals are rock solid and totally perform you can take that risk..

The key is there is no financing contingency, and if the buyer does not perform, they lose their deposit.But, obviously, anybody can check that box and sign an offer.

<<caveat though - once inflation is considered, it isn't the greatest overall return - real estate market appreciation still likely way out performs it - but while we wait for a property, it works for us.