Does anyone do this just for the equity you can get and keep cash in your accounts or do you just buy and hold?

Apparently this tenant had used a bank account that she had no authorization.  

I can’t find much online about it. 

Then you open an escrow account and everybody wires funds, the escrow company gives an accounting and you put the money into the LLC account.

The AppFolio app that is used to manage the rental property has overcharged beyond the legal 12%many times and the bookkeeping for historical payments from tenants has been doctored to show different amounts and to correct thelmistakes made by the online algorithm! 

Now they have moved the bank has frozen accounts to recoup whats owed.  

Is your background in accounting or law?

We do have an accountant, but he is extremely busy and our appointment with him is not till the end of February.

@Telle CherishSo you know, no matter what you see or read on the internet….a POF is for a Cash purchae, not a finaned one and (a “soft” POF is just a BS made up term) is  Proof that You already have the cash in an account in Your name already….period. 

HOWEVER - keep in mind that section 8 also takes into account the tenants' income levels.