Use Series LLC to handle management activities, including collecting rent and signing leases.

During due diligence the seller also replaced the water heater and agreed to an additional $5,000 seller credit at closing.After crediting the commission and seller credit the final purchase price including closing costs came out to just over $190k.

In this instance what I would do is get the deed in lieu from the borrower so you ahve the property again and get a note from them but have an attorney draft it to see if you can include a confession of judgment - meaning if they do not pay then you can get a quick judgment and possibly garnish wages.I would also have them put a small down payment as part of the note and only accept a check that way if you ever did garnish you have a copy of a check so you know where they bank.unfortunately you are right they can stop paying on the note and its unsecured so its a risk but out of all the options this is your best option. 

The expansive backyard includes a sparkling pool and large green area, ideal for gatherings.

I would include it either as a lump sum at closing for the amount which is easier than charging it back to them on a monthly basis.We have "investors" who own a % of each mortgage.

That can be expensive and will likely cost between 15 and 20% of the revenue (and that doesn't often include the cleaning fees) which may mean that you don't make a profit. 

The units are fully furnished, including bedding and all utilities included. 

A few other comments;For Philly: It's best practice to include the required documents in the final lease packet and have the tenant sign or initial all to prove receipt.

There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

.$130k debt on home including HELOC,  monthly mortgage & HELOC $1,155 month.