On paper it looks good, but the reality is a different story.

My rental looks like 6-7% on paper, and after tax it's like 2%. 

We track the stats every year and last year there was $28 Billion in seller financed paper recorded across the U.S.

As you probably guessed from the unpaid rent, the tenants did not leave a mail forwarding address that I could serve them court papers at. 

Today its difficult at 20-40% down to make something cash flow (in real life not on paper).

Some Attorneys will provide you with the written step by step process on eviction and you can file all the paper work yourself ( this will save you some money) or you can have the Attorney do everything. 

Lots of areas that pencil very well on paper but the quality of renter you will get is going to eat into any profit you may think you are getting.

Hi Stacie,As long as we can paper trail the work completed we can do a DSCR Cashout Refinance and tap into that equity once the property is completed!

Do they use pen and paper to record this information or do they have some sort of software to manage it? 

On paper, that's a 88% return before depreciation (can't depreciate land, but you can do a cost seg on the septic and other improvements), appreciation, etc.