This is a resource that many people do not use because so many are getting in the game the wrong way.There are many ideas out there that can benefit you, but think of it this way, they start at 8 or 9 and they drive neighborhoods and find those houses that you can not or that you have overlooked.

The latter is the group that gets how this game works.

Does anyone have any experience with Rent-Right Software?

Sorry to be late to the game, but some thoughts...Check what homes nearby have recently sold for. www.realtor.com is a good free resource or google the assessor's office of the city the property in question is in.By all means, do a walk through of the property if you haven't already.

We are both new to the game, and when I say new I mean really have only limited knowledge.

i dont know...i do know at $300 it still makes damn good cash flow...the property is still marked active and not UA yet...but i have a hunch its going to be foreclosed onim also not worried about having an empty apartment, thats part of the game...in my market i can fill these 3 or 4 bedrooms in this neighborhood very fast even in the winter, they are way above average units...if i can get it at $300K- great if not o well...im not planning on getting this one, bc there is another (supposedly) offer that is higher...there is a chance the realtor was pulling one on me, but from the start i said i'd go to $300K, therefore i started at $270K

This same software was designed by the banks to use for themselves to help insure they do not violate TILA and RESPA laws.

And as a web/software developer I'd love to build it.

The bank is going to be a whole different game, like you said. baby steps....Yes I'll definitely be getting an attorney if I see this going forward....no question about that for sure...

Otherwise, it's hard to know what you should pay for, or whether your should engage, a property management company that will generally take 8%-10% of your revenues.In addition to finding a good book - Nolo's got great ones, and Jeffrey Taylor's Landlording Guide is fantastic but more comprehensive - I'd also recommend looking at property management software suites.