Here are a few tips to get started:- **Start Small**: If the thought of a big project is overwhelming, start with a smaller property or a single-family home.

I am interested in single or multifamily home rentals.

Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?

Due to the initial condition of the home, I had to get a construction insurance policy, pay a larger amount up front in an escrow account, and insurance is pulling monthly from that escrow account.

Single family in general in DFW area I typically see about 30-40 down will break even or cash flow.2. 

The "1% Rule" can be a great rule of thumb but it doesn't account for a massive elephant in the room: Expenses.What really matters is NOI (Net Operating Income), which is why we prefer cap rate. 

Our tenants rent did not get deposited into our account.

I want to put in 5 percent down on a single family house in metro Atlanta .  

But, then had: - Late fee splits- Pet fee splits / collected by PM- Leasing fee of 50% for new tenant- Renewal fee- Service fee for work done on the property- Higher fees for certain tenant conditions- Receives all interest on trust accounts- Full page of admin fees including resident liability program, benefit package, pet initiation fee, credit reporting fee, tenant lease renewal fee (in addition to renewal fee charged to landlord), lease draft fee, application fee, utility concierage service fee, legal notice service fee.

Pretty rare from what I see that cities allow or want this....turns single family neighborhood into multi family and most of the zoning people don't like this.Plenty of issues from their point of few of why they don't like it.....parking is one...now no one parking in garage, and potential for more cars...so now 3-4-5 cars in the street.More taxing on the water/sewer/trash/police/fire/city services.I wish you the best of luck with this.