If you buy good deals, in good locations, hold the property, and maintain cash reserves, you will rarely lose.

Where are you located?

While reviewing the landlord registration forms, I saw a remark stating that if the property owner does not live in the same county as the property location, the owner must choose an in-county representative to receive official documentation on their behalf.

The property is nice enough and in a good enough location that I would be comfortable living there for that amount of time, but I am ultimately looking to make money on this deal. 

How did you locate the property?

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Additionally, you'll need to locate a property with either a vacant unit or a shorter lease that could be canceled, allowing you to occupy a unit as your primary residence, as required by the terms of your low down payment loan.

I'd have to double the security deposit, raise the rent by 20%, and double the cleaning fee to even make it worth considering-- which I would if people were willing to pay but the market doesn't support those prices.

Here are some of the highlights: quickly set up bank accounts for each property and sub-accounts under those for things like security deposits and CapEx; virtual credit cards tied to each property; quick transfer of funds; ability to send money back and forth to tenants (some platforms are for collection only but won't let you send your refundable deposits back to your tenants); easily categorize every transaction into IRS Schedule E categories for reporting taxes; ability to split transactions; tenant management from vetting to drafting lease agreements to collecting rent.

Depends on where you are located.