The tenant was placed by the property management company I was using at the time, and they either didn't collect information for additional contacts, or didn't pass it along. 

You would be the perfect agent to sell it and collect that commission.

To protect the purchaser of the wrap-around mortgage, Texas Senate HB 43:provides for wrap payments to be held in a constructive trust by the seller for the benefit of the buyerestablishes that anyone collecting or receiving a payment from a wrap borrower in connection to a wrap mortgage owes a fiduciary duty to the borrower for the paymentsdiscloses the nature and risks of wrap transactions to buyers and offer consumers the right to rescind transaction/agreement when disclosures are not made timelydefines “wrap mortgage loans” as a residential mortgage loan:made to finance the purchase of residential real estate that will continue to be subject to an unreleased lien that attached to the property before the loan was madesecures debt incurred by a person other than the wrap borrower that was not paid off at the time the loan was madeobligates the wrap borrower to the wrap lender for payment of debt, the principal amount of which includes the outstanding balance of the debt and any remaining amount of the purchase price financed by the wrap lenderclarifies that a wrap mortgage loan may only be closed by an attorney or title companyprevents “house flippers” from registering as financial service providersprohibits a person from making wrap mortgage loans unless the person is licensed or registered to originate or make residential mortgage loansThe new law goes into effect on January 1, 2022.

I noticed the CMHA fair market rent is showing $2,300 for a 3 bedroom in the 44122 zipcode. https://www.cmha.net/housing/landlords/rent.php Anyone know how accurate are these rental rates on their website and what one can expect to collect?

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

I'm a put your paycheck in the bank guy, not a collect rent, cover the overhead, and pay the taxes type of guy.

In my brief adventure doing transactional financing, I actually ended up with several loans that were actually usurious and would've been very difficult to enforce the collection of a delinquent note.

Collections, payables, marketing, maintenance, they are work great but with some small issues here and there.

Baselane has many other features you need also, like the ability to screen your tenants, draw up lease agreements and collect deposits and rent.

It notifies the IRS of expected taxes on this income.Sending Forms 1099-INT as an Investor: Investors should send Form 1099-INT to private lenders if they meet two criteria:They operate as a “trade or business,” applicable to flippers and landlords.The annual interest paid on the private loan was $600 or more for the prior year.Private Lender Reporting: Private lenders must report the interest collected on private loans as taxable income, even without receiving a 1099-INT.