The investor buys it—either with a loan or cash—and the turnkey company usually continues managing the property, handling rent collection, maintenance, and turnovers.Where Does the Investor Profit?

The interest rate is nice, if there was a way to increase the cash flow to ~15% or greater COC you could pull a HELOC on the property for 9% and collect the delta.again though, i would suggest selling it and trying to lock up a property or two with the proceeds that required some sweat equity, force appreciation through a reno, rent it out, refinance and repeat (BRRRR)

What if they have collections or judgments?

The homeowner collects a NET/NET 5% yield with 1% increases each year in long-term lease by a BBB+ credit rated tenant (similar to Morgan Stanley credit).

I use Buildium for tracking rent, fees, leases, and collecting online payments, but I don't use their reports for much, as I end up copying my online banking each year into spreadsheets.I've been using Rental Hero for the last hour and already impressed with it.

You can collect payment directly through airbnb or collect it through your payment processor (mine is Stripe) on your direct booking website. 

Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

Current PM behind one month payments to owner and already collected from tenants.How to get Security Deposits of the existing tenants from current PM and how to transfer to new PM company.

Those willing to go beyond that could be good partners for real estate investors.Traditional banks/Local Banks and non-bank lenders - If they are a portfolio lender, meaning they actually hold on to the loan and don't just collect your payment, then they have the ability to be flexible.

I always collect social security numbers, driver's license numbers, date of birth, etc.