The operator is taking all of the risk in purchasing and rehabbing the property, handing it off to you fully rented and hopefully in good condition where there are little to no maintenance expenses at the beginning. 

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

We are currently building many investment Single Family Homes on independent lots that focus on maximizing rent.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Over 4k in damages, utilities, past due rent, court fees, tons of trash, holes in walls, pee everywhere, etc. 

One of the properties is about 90% rent ready and just needs a few cosmetic repairs.

How do I like tenants to pay rent?

You may want to make an introduction between your CPA to those 2 colleagues.The CPA can go over their services and pricing to your colleagues.I partner with many people on real estate deals - It never gets to a discussion on whether they do their own tax return or hire a professional.If a partner mentions he will provide capital - does he provide the capital on a timely manner.If a partner mentions he will find deals - does he find many deals and provide an analysisIf a partner mentions he will manage a property - does he manage the property well(find tenants, collect rent, communicate with contractors, etc)

Right now, I’m looking to buy my first duplex, live in one unit, and rent out the other to offset my mortgage.

LTR and MID term are hot now as well, we have more people that want houses than houses to rent to them.