Once they get in the fun begins, that is the rent collection, maintenance and all the other fun activities to property management.

I'm collecting bids for putting a steel structure over a parking lot in my newly acquired apartment complex, and thought the community might like to see some of the prices I've been quoted. 

You are collecting $936/month on a $54,000 loan.

Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits: 3 by Brandon TurnerHow to Invest in Real Estate by Brandon TurnerBook on Renta...

Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits: 3 by Brandon TurnerHow to Invest in Real Estate by Brandon TurnerBook on Renta...

That is a risk I am not worried about because I know he collects about $3700/mo from the military, which should cover the mortgage.

Our plan is to collect rent through our LLC even though we bought the home in our personal names. 

All you'll have to do then is find the buyer, collect the money, and pay off the home's release price (hopefully with a little extra!)

When you BRRRR, then you are keeping the property and collecting residual passive income (if done correctly).

Cozy.co is what I use to collect rent and bill tenants for any maintenance issues (not due to general wear and tear).You can also use it to track maintenance requests, screen tenants, have them record insurance policies, etc.Did I mention it was free?