If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Quote from @Sharma Parth: Quote from @Jacob Sherman: are they selling the rent ready properties or consultants guiding you start to finish in the process  rent ready properties. they will take distressed properties > fix them > get you  section 8 tenant > and also offer management for you Sounds like a no brainer if the  numbers are right .

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

Outside systems like plumbing, sewage, and the water heater should be in good condition, and make sure there are no signs of pests.Additionally, look into property taxes, insurance costs, and zoning laws that could affect future development.

Annual taxes are low.

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

I'm looking for the cleanest & most visible way to access payment history, see amortization schedule, tax documents, etc- much like bank softwares provide. 

For tax purposes, rental income is generally recognized in the year you receive it, not when it is paid.

There are tax benefits to running everything through an LLC, but again, seek advice from a tax professional.

@Kristin Vegas- You are going to need those invoices to be able to write off the repair expenses for tax purposes, so if this PM isn't willing to provide them, you should look for a PM that does.