This takes care of collections and filters tenants to a large degree.  

We are all overly optimist about our own knowledge, skills, and abilities (not a lot of people will say they are below average investors, even when they know nothing) AND we overestimate the degree of control we have and underestimate the role chance plays in our future.2.

@Marc ShinThe timeline for completing the BRRRR process can vary depending on a few key factors, like the condition of the property, your financing strategy, and the speed of contractors.

Focus on cash flow, leverage financing smartly, and structure your deals to remain flexible under varying tax conditions.

It's like getting a degree in college. 

There will be some customary fees that hit seller side, but this is may vary state by state.On both buy and sell, you will have things like wire fees, maybe underwriting fee, etc, but these tend to be minimal.Holding costs: HOA, if you have one.  

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

I think everyone has to find their own way to some degree. 

If you hired an agent or a broker to work with you, you'd be covered - but regulations & laws vary from place to place.Screening is best done by establishing a set of guidelines to qualify applicant tenants, then sticking to those rules to avoid legal issues (and for your own sanity).

The loans were varied and some were able to close sooner than others and they wanted to close before the others but we held out because we needed to close all of them at the same time to avoid any last minute standoffs or complications.