Not the nicest areas, but nice enough.. and I would be looking for minimal cashflow, banking on appreciation. 

We try to set up at least 3 timeslots each week when we can schedule all the showings to minimize the tenant interuptions.If they won't cooperate or cancel too many scheduled showings, we warn them we will pursue collections to the fullest extent of the law. 

Early indications as I expected is that they have gone up slightly. 

They pay a minimal interest (around 4%) on account balances, and you can categorize transactions (much like Quicken if you're familiar with it).

On the disclosure form, the seller had indicated “no” to any known damages.

I love the idea and its really quite nice because the costs are minimal and upside is huge.

It ensures you’re bringing in responsible tenants and minimizing risks.

@Chad CutshallI can't answer for them, but their website doesn't indicate that buying/reselling notes is part of their business model.

With a low 4.75% rate but minimal cash flow ($50–$125/month), your equity could likely work harder elsewhere.

I also have a clause in my lease that states what will happen if proof of insurance is not provided - which is similar to what Bill indicated above.