My simplistic example above was just pointing to the fact that lower rents will give you greater physical occupancy and a greater pool of applicants to draw from; and thus better tenants in theory if your screening procedures are good.  

Typically the procedure is LOI, proof of funds, PSA, review DD, amend PSA, financing/title, close.

If you do decide to allow them to be added to the lease, make sure you follow all normal screening procedures that you do on the property (credit score, income, etc.).

Hello All, I want to buy house. my parents would like to gift down payment. they are in India. they would like to transfer funds in escrow. what is the procedure to transfer from overseas to escrow account?

As with the E-Myth I would like to devise a business plan with policy and procedure in which to not only show my lender and CPA team members, but also allow friend and family to understand the seriousness of this venture. 

There are some legal documents and procedures you have to go thru regarding taxes and entity’s but yes it can certainly be done.

If I'm not mistaken, all the .gov resources, while comprehensive, are not exactly succinct and a lot of massaging of data needs to be done in order to get any meaningful information out of it. 

My wife took 500 hours of education to be a massage therapist in Colorado but it only took 50 hours to become a REALTOR.

@Noam AdlerUnfortunately the biggest challenge in property management is communication with owners and tenants and vendors as well as the property management company not having proper policies and procedures and structure.Very similar to you I started a property management company because I could not find anybody to manage my own portfolio of homesOne thing I would suggest you want to learn and be very aware of is that you are opening a business which is one of the highest regulated in the real estate industry with the most lawsuit involved take the time to educate yourself regarding all the IRS local property code as well as real estate law and accounting.create the proper business structure and organization chart ,mission ,vision ,culture before you start managing even one doorUnderstanding that you want to ask people what they want but you also have to remember that you were running a business that needs to be a profitable business that also keeps owners out of lawsuits as well as yourself.I would also suggest that you make sure you have enough capital to fund your business to be able to invest in things such as software and other things that will make your business run more efficiently

Just be careful that you don't massage the numbers to make them look like they work.