@Derek Scott Hi Derek, we actually transfer properties with outstanding mortgages into LLC's almost daily by transferring the properties into land trust that are then assigned to the LLC's.While a transfer to an LLC will cause alarms at the bank and prompt them to send you a letter, a transfer to a trust will not.

If you don't already you should consider assessing an initial late fee and then a daily late fee (if your state allows it) until rent is received - (you can also always cap your daily fee if required by your state) - this will convey to the tenant that again - late payments are not tolerated.You'll have people on either side, some will say let them go for as long as  you can afford it without paying rent because everyone runs into financial trouble and others will say evict the moment they are 1 day late and don't look back.

https://magazine.realtor/daily-news/2019/06/21/watch-out-first-time-buyers-mom-and-pop-investors-are-swooping-inHome purchasing activity among investors has reached the highest level in the past two decades, shows a new report, “Investor Home Buying,” released by CoreLogic.

Daily action is critical.

Success is a daily practice.

If the tenant stays beyond the scheduled move-out date, I charge them 3x the normal rent rate, prorated daily through the day of departure. on a $2,000 rental, that would be $200 per day for ten days = $2,000. 

I ask because 6 figures plus goes A LOT farther in midwest markets like Indianapolis and Cincinnati where there are cheap flights to NYC on a daily basis. 

Also, there are cases where the expenses will be higher, particularly in an RV park that has a large amenity package and daily RV traffic.

But, also don't let these things prevent you from taking action and making an investment.The biggest piece of advice is to take solid action on a DAILY basis.If you like having roommates, buy a house and get roommates.

I'm open to starting with the bigger outfits, but my concern is that I may get lost in that space considering my part time contribution for now and the volume of other agents.