You wouldn't want to get hit with fees or fines for not knowing something that turns out to be super important.Once you feel knowledgeable about the rules, find a good administrator who can help you navigate the ropes.

Electronic payments are great but that's a conversation you have to have with each tenant and that's a pain.

It could be a real pain to deal with that distance.

As you alluded, a rooming house can be lucrative, but it will be more administratively involved than letting apartments.We rent furnished rooms and provide dishes, cookware and appliances in our kitchens.  

Convention would be for the borrower to pay all origin (loan preparation, legal, appraisal, etc) and administration fees (i.e. the servicer) during the course of the loan.  

But you don't have to have a washer/dryer as thats what the laundromat is for.I'd add that fridge's rarely go out too but they are a pain to clean sometimes. :-)I would check your area first.

Start by contacting the Section 8 program administrator for your area, most likely a Housing Authority.

They have processing fee, supplemental origination fee, underwriting fee, consultant fee, administration fee.I'm seeing 3k in fees.

Small Business Administration website (https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business )"21 Things I Wish My Broker Had Told Me" by Frank Cook (Dearborn Real Estate Education 2007).These will all give you some perspective on what you need to know to be successful as an agent. 

I am planning on majoring in business administration and I am also taking online classes to get my real estate license.