I remember even during Covid we sitting pretty collecting all of our Section 8 rent checks.....The County Wake housing authority blows the big one.

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.

If they fail to pay, then you can consider taking them to small claims court or filing with a collection agency. 

This PM will be trusted with the accounting, collection, and transfer, of tens of thousands of your dollars, or more.

Most people do not realize when someone liens a property its just a lien, but to collect on it they must file a lawsuit to collect that money which will cost them 5x more than what its worth. 

They couldn’t handle the situation, and after months of frustration, I ended up dealing with the tenant directly to collect rent myself.RTR knew they’d messed up and even paid me some money as compensation, asking me not to post anything negative (which I’m clearly not doing).

We are considering renting both condos long term and hiring a rental management company to collect rent and manage. 

This is more tax efficient as the interest you collect would be subject to ordinary income (outside of an IRA, whereas in an IRA, there’d be no tax on this.

@Kevin Lorick are you getting a monthly Owner Statement showing how much they collected and what was deducted?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.