Quote from @Andres Lasaga: I am in the process of selling a property to the tenant I have been renting the house for 4 years.I want to outsource the promissory note collections and reportsIt would be only ONE property, for now, any recommendation of a company that can manage the collections and reporting?

You can collect rent, do your banking (unlimited virtual accounts), and do your accounting.

What if they have collections or judgments?

Going private money will already cost you more $$ in closing costs, points, etc - but they should ONLY collect $$ if the loan closes.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Don’t have burlap cloth to keep wet. 

The tenant will most likely talk nonsense and show the judge precisely who they are.Send the judgment to a collection agency, along with all supporting documentation.

I currently use rentredi and am disappointed in it, I want to switch to STRESSA but find they collect rents into their bank account.Has anyone used RENTREDI accounting software, they want $100.00 per month which i find exesssive.

I do know that the rent collected from my buddy and the tenant in the midterm rental will come close to, if not break even, with my mortgage, taxes, and insurance.

It will cost the seller more time and energy to sue you than collect on the EMD.