We do use Chase Bank for our property management company, we do NOT collect interest on the funds.

You can hire them to be your physical address and collect your mail.  

When he went to draft up the contract he made it a Confessions of Judgement contravr in which I waive all my rights and if any of my "associates or friends" talked about him I'd have to pay half a million per offense, and he could easily claim a violation happened that never did to collect half a million dollars and I wouldn't be able to do anything about it.He consistently threatened me with legal action into trying to get me to accept that crazy contract.

What software/website do you use to collect rent biweekly?

and might be interested..These women have collectively have thousands of posts and votes on BP, decades of RE knowledge, hundreds of transactions, are awesome people to learn from, and in some cases, you'll get to know great folks!

I'm going to a new CPA this Friday who has extensive real estate experience so I'm hoping he will be able to advise me on the best/easiest software to utilize. 

Purchase price is 600K, I'd finance 400K for 1 year with a possible extension. 

It's big business collecting "guru" fees to promote wholesaling. 100% of the wholesaler "gurus" make money promoting "easy", no money needed wholesaling.The wholesalers who do 10 deals a month will tell you they have a team, that means salaries, taxes, office space, training and they spend $50,000 to $100,000 a month in advertising.

Screening, applications, credit/background checks, rent payment collections, and maintenance records can be handled with a few clicks.Thank you @Wale Lawal for always providing some healthy discussions & insight.Have a great weekend!

You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.