An assignment of collateral can reduce the loan to value of your new or subsequent loans. 

Some tenants will view the legal document known as a lease as nothing more than toilet paper.The lesson that should be learned from this is that a landlord should not let a tenant "slide" regarding rent. 

If so I’d love to hear about the transaction and any subsequent success or challenges.

love the sliding barn doors :)

Thereafter, all rentals shall be paid in advance on or before the FIRST day of each subsequent Payment Period for the duration of the tenancy.Emphasis above is mine.

If you let them 'slide' the 1st month.......It will become EVERY MONTH.

But there's no way a pm should let a tenant slide.

Ideally, a 2-3BR SFR or a small multi family (2-4 units) in a safe area in above states in good condition and not too old (built after 1960s) with good cashflow and appreciation chances is what I am looking for, hopefully with occupied tenants.Location wise, an alternate thought is to find properties in developing cities in other states such as NC (Charlotte, Raliegh), TX(Dallas/Austin), AZ(Phoenix) etc where I can fly out if needed but the thought of remote investing out of state is frightening me after reading the property manager horror stories.Unlike a lot of people who come in excited and slide off after their 1st post, I am generally persistent about my ambitions and goals in life.

In the title story above, the quit claims, subdivide and subsequent faulty sales were all kitchen table closings.

@Jason Haynes  I actually charge a sliding scale for property management.