If it is to play it safe and have a feel for the type of actual operating income that the property can produce before you put debt on it, that's a safe and solid idea.The good news, however, is that you're likely going to be purchasing a furnished property.

All the "what ifs" that go into rent collection can typically be managed with an online rent payment software, but if a tenant misses a payment, you will still have to figure out what happened.Lease EnforcementYou will be responsible for making sure your renters follow the lease terms.

Are or have any tenants been delinquent on rent, fees, or utilities they are responsible for since the inception of their leases?

I pointed this out and their response was that it "looked bleached" and "showed that chemicals were used" once under a blacklight...

They are grateful, they accept responsibility and there are far fewer free loaders!

2 bed/1 bath 1120 sqft: heavy rehab1 bed/1 bath 636 sqft: heavy rehab

College towns can be solid for rentals.

If not, I have no issues taking on a "cash paying" tenant.In terms of what I would do in your shoes with $100k... it sounds like your plan is pretty solid.

Thank you for the great insight and thorough response.

However, it can be helpful to create an alliance; this requires identification of individual responsibilities together with legal documents and the selection of partners who possess different abilities.