When the credit report addresses don't match her application, you deny her and move on.Any landlord running a credit check on her after 05/01/2024 will see her credit report has a $12,000 collection from a property manager, and that should be an automatic denial.

I am from out of state so wanted less maintenance in the short term while I build my portfolio and grow to the point where I am comfortable hiring a manager!   

Additionally, managing series LLCs can be challenging, especially when it comes to opening bank accounts or handling titles for individual cells, which can create unnecessary complexity.

Are you looking to have a team manage these properties? 

I generally work with home owners looking for long term management, but I do work with a local broker with access to off-market deals, and he sees a lot of activity in the area.

If the negative cash flow is manageable and the appreciation potential is strong, it could be a smart move.On the other hand, investing out of state allows you to enter more affordable markets with strong, steady returns, helping you to build a diverse portfolio over time.

If there’s a significant difference, it might justify the cost of adding more beds.For example, we manage a 4BD property where one bedroom is currently locked off, so it only sleeps 6 (1 king, 2 queen).

You can structure it as an LLC or joint venture, which offers clearer tax and liability benefits.Your son doesn’t need to be on the loan or title if he's a silent partner, and you can manage the mortgage, credit, and insurance.

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

If there is a property manager, your success rate is going to be very low.