We are covering 17 rentals and only gave 1 car (auto seems to play a significant role).

When I have done those, I have made the underlying mortgage payment directly to the bank (auto-pay through my own mgt co) with the extra going to the seller separately.Anywho - I don't play with LCs at all.  

This is because most people don't want to live next to traffic noise mostly but also potential risks of accidents.  

@Hoa Nguyen -Like any other asset (real estate, stocks, cash, auto, etc), beneficiary interest of seller financed note or contract would pass down as per the instructions of the estate or probate. 

1) I pay my rent through Clickpay.com - with which my landlord has an account. 2) My small investor clients take either Venmo or Zelle/Chase Quickpay - just be careful about commingling when you transfer it into your rent account if you have one. 3) Banks allow for auto billpay which should automatically send a check to you every month on a date they select.

Initially, the desire to create this came from my mom having a car accident and thinking, "man, what would have happened if she was not able to get around".

The protection thing: If someone sues you because of an accident on your property they are suing your insurance co.

All bedrooms have their own locks which I keep a copy of and a lock box with another set of keys incase someone locks themselves out their room by accident.

I'm interested in learning more about locks that auto-issue codes.

Being out of state though, I have to pay state income tax anyway, so no deal.Add in the fact that the oil and gas industry employs most of the state in one way or another (like auto does in Michigan) and that industry will be in the toilet for the next few years (with people leaving state for other jobs) and the demographics look scary too - no appreciation play to be had.