That said, this alternative to traditional financing is typically more expensive and requires repayment or refinancing into a traditional loan in as little as five years.

I read online that a transfer from Parent to Child is exempt from real estate transfer tax. 

If a permit is required, apologize, file the paperwork, pay the fine, and move forward.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

@Carol D.They are a regulation a+ offering so they will be required to report bi annually the financials to the SEC and you can see financial strength of the company.Just remember most companies may issue distributions but are not profitable the first few years due to high startup costs for a company

@Gino Barbaro- Lastly, I was told that if I am going to rent it anything more than 30 days, I can still do it without any permit requirements. 

My first year was filled with attending classes (I'm with Keller Williams, and they provide awesome free training to their agents), talking to people (in grocery stores, family, online chat rooms, etc), and listening to Bigger Pockets podcasts as I drove (alone) or walked my dog.Literally in year 3, I started getting repeat clients. 

Ask or go on line for property taxes3.  

-I have an online portal that is updated most of the time showing rents paid so the tenants are not the issues.

Can do online application via your website, auto generated term sheets and loan docs, and pipeline management.