You can wind up with title issues if you are not careful. 

The GC is a business person who doesn't care about your ARV, LTV, or your budget.

The only thing that I really care about is room on the deal.

Hope this helps for now, and great to hear you are paying attention to your hard earned retirement funds with such care and discipline! 

Unfortunately, every state and every locality has different laws and what works in one location doesn't always work in others, so you have to be very careful about the 'free' advice that is given in online forums. 

And all properties need to be managed and supervised numerous times per year; giving residents the idea that no one is watching and/or no one cares will be a sure recipe for disaster. 

There are a couple of things that come to mind, if a payment is missed the lender cares, if the servicer goes out of business or misses a substitution of trustee, the lender cares, if the borrower goes to the lender to try to get removed from the loan (usually to buy another house) the lender cares, if the property gets caught up in a bankruptcy or divorce, the court cares and that means the lender gets involved.

Just trying to gauge whether your bookkeeper is overcharging, especially if you are splitting duties.I would be careful with real estate-specific software.

I’m sourcing carefully and trying to approach it methodically, especially with the added layer of investing out of state.It’s good to hear advice from someone with experience.

We have never collected that and it is not a significant cost.Also be very careful changing criteria mid stream, I would only change it between vacancies.