@Rhia MckissicMost states require a lease to identify the owner of a leased property, whether a person, trust, LLC, IRA, etc.Landlord = Lord of the Land = Owner per deedAgent = someone legally representing the ownerProperty Manager = Agent

Totaling roughly $12k a month in interest payments.

The tenant makes your payments for you on a property with positive CF. 

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.

They have different payment methods, payment plans, payment requirements, charges, marketing needs, reports, etc.

There's down payments, closing costs, and then holding costs, plus miscellaneous costs. 

The operations manager will be the one that is coordinating everything in your home so you better trust them.

And I understand (I think) your making interest only payments until you pay back the loan?

Ultimately the goal is to build a great, creative relationship with the right lender whose in my corner and I can trust.