I am aware of the risks, I provide disclosures, disclosures, disclosures, I close through escrow, I order a title report, escrow records the warranty deed, I don't use quit claim deeds, I am aware of every one and every entity that might have an interest in the property, I don't let someone stay in the property after they have sold and collect rent from them, I don't miss any payments, I have insurance changed to my name, I have access to the lender if I need it, I make the payments directly to the lender so I can make sure the payment gets paid, I take care of any problems with the city or county regarding weeds, waste, etc, I don't let the house sit vacant, I have backups in the event of a Due on Sale call which I've had 2 in 25 years, I don't believe in "Due on Sale Insurance" or "Tooth Fairies" or "Unicorns Farting Rainbows", all of which are amusing but don't in reality exist, I realize that if I screw up and miss payments it affects the sellers credit and can result in a lawsuit, I have a tightly written contract, I am well funded and I understand the law.

I am using the bigger pockets rental property calculator (just got membership). 

For example, I am near Madison Wisconsin, I am using Vacancy of 4.5%, maintenance 10% and cap ex at 8%.

With a casino, hotels, shopping, dinning, amusement, etc...I think it is a great long term play.

I am using county records to find the owner name and then looking at sites like truepeoplesearch.com to find phone numbers.

I bought the property for 96k with 20% down hard money & am using my own $ for the rehab budget.  

And I am use to double entry accounting but I'm not terribly comfortable with it so Ill have to look into the custom screens and all that fancy jazz :D And thank you for keeping my scalability in mind because I do intend to build a nice size portfolio :)@Lesley Resnick Thank you for your follow up.

I am using the bigger pockets to analyze them so far the max cash on cash I have seen is 8%.

I am using the same strategy while acquiring properties in Mid-west.

I am using Quick booksWhen entering the purchase of a new property, do you tend to create separate mortgage accounts for each property with a different name (eg Mortgage- 123 Main St), or create one big mortgage account, put all the loans in that one pot and just track them by class.