I was not referring to CDOs in my post (maybe I shouldn't have posted in the "Innovative Strategies" forum). 

--Key word here is "EXPECT."

The key word is might.

Something for you to consider.RETURN OF POSSESSION & REFUNDS[Our name and address][Our phone number]Tenant: ____________________________________________________________Rental Unit Address: _________________________________________________The tenant returned possession of the premises (as stated above) to the landlord on the date of ____________________ and attests that they have returned ALL sets of keys to the landlord.The tenant attests they have removed from the property all personal belongings.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $77,000

Cash invested: $13,000

Sale price: $112,000

Single family home purchased as a foreclosure. Live-in flip...

We agreed that she would turn in the keys and we would do a final walk thru at 4pm.

Doing it poorly will make you not want to get up in the morning, and most landlords do it very poorly.Rather than trying to source and then assemble all the key components of a comprehensive and bulletproof property management system (e.g., lease management, repair management, payment processing, lease renewal management, etc.), find someone who already does that and then let them do their job.That way, you can focus on your job: finding great deals!

Need to be selective on product and on micro level location and property management is key to achieving thisFeel free to drop me a pm if I can help

For example, in my market, a turn key operator was successfully selling properties for $125K. 

A applicants attitude is a key factor in screening out the bad apples.