Starting with three T-12s from properties of a similar size and market is a fantastic strategy, and I’ll definitely take your suggestion of setting aside time to really dig into the details.Thank you for the encouragement and practical tips—it’s advice I’ll take to heart as I move forward.

I am assuming this is in TEXAS (I am editing this as I thought I was in the Austin Fourm, I understand now that you might not be in Texas)  as each state has their own set of laws that property managers must follow.  

I mean you KNOW the laws..

If it’s not required by law, you might ask why it’s being done now and if there are alternative ways to address the concern.Going forward, consider setting a clear spending threshold with your property manager.

Mind you, with mortgage interest rates in the US being so much higher now (and seemingly for the foreseeable future), I wouldn't be surprised if LTRs in Europe would cash flow better than in the whole US nowadays (to be verified).This being said, I don't and would never invest in LT rentals outside of North America  as I wouldn't want to face unfavourable landlord/tenant laws as a foreigner.

Is it not the actively working and realistic practice used all the time?

Deposits from the tenant.Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution lawfully doing business in this State or the landlord may, at his option, furnish a bond from an insurance company licensed to do business in North Carolina.

It's a detailed perspective on how private lending works, with practical strategies for building wealth through this niche.

what are the laws in CO regarding unlicensed wholesalers tying up property advertising it and collecting a fee at closing is that even legal in that state. ???

A really important thing to keep in mind is tenant landlord laws.