Hey all - Stumbled into a new SFR net lease strategy after purchasing my first self-managed SFR in South Florida.

If the prospects look financially shaky or sketchy, I ask for the name of a co-signer - and collect payment for a background check on them.Verbally, I also ask when they are interested in taking occupancy, and I tell them the application will be made part of the lease agreement - that I can evict them if they've lied in their application.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

Once they sign the lease and pay the deposit I credit them back the cost of the background checks off their first month’s rent.

Since the yard is already rough, I would keep the shed and see how it works out.Consider adding something to the lease that permits you to remove it from the property if it becomes problematic.

Since this is a real estate forum, I'd just clarify what someone could buy the real estate for and what your lease terms would be.How many sq ft?

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!

If we notice cars parked on the lawns that we don't have noted on the lease as the tenant's we'll get them towed.

In Oregon you can kick out who ever is living there unless the federal law regarding arms length leases comes to play..

Louis, Missouri-based property manager seeking investors and opportunities to property Tenant screening, lease negotiation, property maintenance, rent collection.