They paint a glamorous picture to get you to sign with them.

"Fine" to the extent that person doesn't declare the property his (it is his, actually) and you the partners out of the deal.If something happens with the rental (someone slips and falls because you didn't replace the balusters fully knowing the risk and despite the repeated requests from the tenant, in which case the insurance will not cover you since is considered gross negligence)  and the person on the title gets sued, all his assets will be at risk, personal and the rental.

Does this cover your payment with taxes . insurance, and a little for repairs? 

My thought is that as long as we can cover the HELOC payment from the rent that we would be collecting we’d be fine.Thoughts?

Rent covers the mortgage (plus a little) so it's working out okay for us so far. 

Our goal is to get to the point where our passive income will cover what i currently make(somwhere around 12 units) and i can stay at home to raise my boy.

On there you can track everything, have pictures and even post ads that they will syndicate out to rental websites automatically.

After looking at some info on cash out refinancing, I am now considering this as it would be a strong rental in a great area.My situation:This would be my 3rd  buy and hold...1 rental, 1 rv storage yard and this property.I have used a heloc for the 20% on each property but now if I hold this one traditionally my cash would not be enough to do another deal.I have flipped 1 house earlier this year with the intention of doing a few more to draw the heloc down to nothing by end of next year.If I do a cash out on this one I may not be able to pull all of my initial 20%/rehab out, but would be covering the notes/expenses and cash flowing some each month with a long term asset.

We don't anticipate having any emergencies with our rental properties that aren't covered by insurance and would cost more than $2500, but if we did, we'd chip in from our personal funds and cover it.

From experience though very few people actually read the details of a rental ad, they mostly just look at the pictures and the rent amount.