I've still never owned a single family rental property or collected a rent check, but I hope that jumping into development will create opportunities for others to own their own homes and rentals that will serve families for generations.If you want to follow along for more of the journey let's connect.

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here

And what if the one person you didn't check has a criminal background, has collections, and more?

@Yoni Kaszynski, with a co-signer what I focus on is whether they are "collectible".

I’m currently looking into the best ways to structure guest payment flows to ensure legal compliance (that may restrict non-licensed property managers from collecting rent directly) and seamless operations.

Highly recommend you have stripe with rental agreement where you collect identification, selfie, credit card info, and e-signature.

don't have to have all the functions just wanted to know what will be recommended. thank you  1. rent collections; 2. late fee handling; 3. auto eviction; 4. 1099 / report; 5. repair work order/ maintenance requests; 6. listing and screenings etc

In particular:(1) Should I hire a law firm or collection agency to facilitate the transaction?

For example, an agent would collect a reduced commission, flat transaction fee, or no commission if the buyer sources an off-market deal directly.In your case, if you'd like to compensate your agent, you can include it in the loan.

Property Management Dashboard: Allows me to summarize delinquencies, notable expenses, upcoming lease expirations and rent bumps and send a monthly email automatically to the property manager for a status update.Everything I've found is either focused on the property management and rent collection or on managing investors.