I’m a non-accredited investor just trying to build up some connections and make some private placement deals.

You get paid on the pull and placement of the home.

50% rule probably isn't going to work for you here, just be aware.You're at about 15% for taxes, 10% for utilities, add in 5% for insurance and 10% for Property Management and you're at 40% of your income already without vacancy, repairs, CAPEX, lawn care and snow removal, tenant placement fees, or anything else.As mentioned, lower prices tend to turn over faster (I try to avoid 1 bedroom units for this same reason, rent fast but move often) and can be harder on units... 1 months security deposit often doesn't go far either in terms of damage to a unit and making it rent ready again.

Looks like they will only do full month to month management and not just tenant placement.

Unless of course you don't own the place and get a 'renewal fee' for reminding them... and you win again with a new placement fee when they leave.

So far my “LEGO-minded” precise 17 year old son blows us all away.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

If it was through NYREI or a similar school, they have placement programs that you can use. 

Our minimum investment is $10 for precisely the reason that you mentioned---diversification.