Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

If you rent in Vancouver and buy an investment elsewhere that you rent out, you collect OPM.

I’m also not a big fan of having a balloon since he is probably going to pay on it for 5 years, collect the rents which will be a lot more than $2000 per month and then sell it in 5 years to pay you off and make money on the back end as well.

Then accounting for your mortgage (if you are getting a loan) & turnover costs, versus the possible rents you can collect for the area.

If the place is in good condition most of what a regular PM would be doing is collecting the rent.

.- They can significantly lower their current living expenses - People currently paying ~$2K/month in rent can pay as little as half of that for their portion of the mortgage (after collecting rental income).- They gain acquisition, project management AND property management experience - all which will help tremendously when its time to scale and grow the portfolio.

Looking for online rent collection recommendations for commercial properties.

While they might not be making interest off the money, they’d still be collecting a monthly salary based off occupancy. 

@Bill Broeren I love Cozy/Apartments.com. i used it as a screening tool and to collect rent.

Home warranty companies exist to collect money, not to pay it out.