Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

These special taxes, as they are called, are collected the same way as general taxes (December & May) but are listed out separately.

Going private money will already cost you more $$ in closing costs, points, etc - but they should ONLY collect $$ if the loan closes.

A “contract to hold” binder payment equal to a month’s rent would also be collected at that time.

You can collect rent, do your banking (unlimited virtual accounts), and do your accounting.

Further, he can extend his “grace” period a further 30 days by paying us an additional $50k.So far, we’ve collected two $50,000 payments in the last i0 days plus the $36,000, or $136,000.

At 23, your unfair advantage is time that is not constrained by collecting commitments of a family.

I do know that the rent collected from my buddy and the tenant in the midterm rental will come close to, if not break even, with my mortgage, taxes, and insurance.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

I used to go and bang on the door to collect rent in cash which I don't do anymore, but I learned a ton with my first one.