Usually in this model you collect a down payment then finance over set amount of time at decent interest rate.

Try collecting...You do realize the death figures in NY/NJ approaching a sept 11 every week right?

Interest for late payments and chargesInterest at the Interest Rate shown on this Agreement will be payable on any amount not paid by its due date (including any balance which may become payable under section 9 of the Terms and Conditions of this Agreement) calculated from the due date until actual payment to us, to run both before and after any judgment.All reasonable expenses, charges and costs incurred in locating you or in collecting any sums due and unpaid shall, if we wish, be recovered from you should you fail to comply with any provision of this Agreement.10.

What are landlords of SFR and MF planning on doing with rent collection April 1? 

Did nothing to it, continued to collect rent and sold it for 38k a year later.

This means collecting payments and forwarding them to the investor, paying taxes and insurance, answering questions, etc.

We thought that an alternative would be to rent a townhouse/ apartment for the remainder of the lease but I also have 9 cars (I collect) and with the amount of stuff and family members we have, it would be a giant inconvenience.

A number of landlords (myself included) still receive their monthly rent by receiving a check in the mail or collecting it themselves directly form the tenants.

If you’re not in the area often then yes, long term rentals may provide more stability for you.Either way, I do recommend that you buy based on reasonable long-term rent #s, not AirBNB #s, since you may not be able to do AirBNB if you’re not actively living in the property.As far as $2500-$3000 per month, if you mean gross rents then yes I think that’s do-able if you have decent-sized and -condition units and especially if you have 3 units with at least 2 beds per unit.Management fees are usually a percentage of collected rents, which is probably also true in NYC. 10% is “common” but some property managers may charge more or less depending on what services they offer, how many units they’d be managing for you (think quantity discount) and what you can negotiate.

Has anyone had any luck with mortgage companies if rent can’t be collected due to coronavirus?