this is the distinct different between being an actual lender like a bank .. and an investor in a fund.. two very separate transactions.. when you lend and receive collateral on the asset you get paid when it pays off or the borrower refinances etc. 

@Cristal Ochoa @Leiah DotlichI will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

I'm an independent agent here in AR and I write a lot of rental property, with ~6 preferred markets and if the properties have some issues, age, claim history etc.

A balanced approach often works best—consider splitting your cash flow between paying down the mortgage and investing in diversified assets.

@John Lasher If you are still looking to spend $20k-$30K for a coach, I would be happy to take you up on that offer :) For full disclosure,  I will share with you precisely what you can learn online/ perhaps even entirely through these BiggerPockets Forums but that doesn't address the reason why most are still unable to purchase larger assets: creditworthiness and capital relationships.

If the other party is a lifestyle buyer, he's going to prefer to own his own property rather than have an investment he/she can't control.

I have a included a link to a PM locator tool ready to go with recommendations in your preferred area.

Never invest in Longterm assets with short term debt.  

For a purchase generally application would be to review an ID, asset statements, and LLC docs if neccesary.