A google search will turn up a number of firms that can help you and have tutorials explaining more about them and the details to set them up for you.

Feel free to shoot me a pm and I can help with how I set up my proformas as well! 

Your bank can give you instructions to share with tenants so they can set up direct deposit from their bank to yours, without software.

The equity and profit would all be split based on money put into the deal, so I would have 20% equity and would be entitled to 20% off the net profit.Here is my issue: both of them are pretty set on holding the property free and clear (10+ years) because their primary goal is solid cash flow and secondary income to their businesses which can be seasonal.

You can do most of the screening process and background check part from afar and get a new tenant set.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

For those looking more aggressively, the Pro subscription offers the full set of daily properties (10+ daily), plus usually another 30-40 in a (filterable by state and city) google sheet that didn't make the cut.

By highlighting these achievements, I motivate others to have faith in their abilities and boldly chase after their aspirations.Influencing others through action and proof involves setting a strong example.

I stay away and do not allow the 5 piece vinyl sets because the seems fail.  

Effectively, you would claim depreciation for a portion of the year depending on how you set things up initially during the year you purchased the property.