I am a student in NYC, and have been working towards starting a wholesale company in the city, mainly focusing on servicing residential properties in Queens, BK, and LI.

It sounds like you are taking all the risk and they are doing what a normal property management company would do.

The best way to learn real estate development is to go work for a development company.

Lease to a Property Management CompanyPartner with a management company that handles the STR or corporate rental for a predictable income with minimal hassle.

The collections company said sorry we can't do anything since you don't have an application for that tenant.

Does anyone have experience with either company?

Quote from @John Mason: Christian this may help give more perspectiveshttps://www.biggerpockets.com/forums/925/topics/1145785-begi...Also maybe a good idea to touch base with Property Management companies and Realtors whodo MTR placements, I know that you have to pay them a  fee but 85 %  is better than 0% , am I right?  

Especially, when you add the other companies Zillow owns - Hotpads and Trulia.FB Marketplace is almost a waste of time in our Metro Detroit market as 95+% of inquires we never hear back from.

The real estate guru's will tell you that you should call the credit card companies (3 separate companies) who offer the 0% APR and request to get the maximum amounts on all three.  

Networking with other investors at local REIA is a great way to do that and also a great way to meet realtors, wholesalers, contractors, inspectors, property management companies and anything in between.