If you never ask you will never receive.

Managing and renting in Class C area; what propels you past the Institutionalized management companies and Excel minded Investor......1.

I actually did receive a recent water bill from the listing agent a few hours ago, and it was $130.

I garnished her wages and today received the final payment.  

Excellent question!

However it is one of the ways to make purchases quickly and setup with government agencies for buying liens and receiving payments.

Both GSE's - Fannie and Freddie will require most recent 1040's with Schedule E to verify rental income received.

It really helps to receive feedback from others in the business.

First always seek legal counsel with an attorney:ask them the pros & cons of some of the following:1) Debt: secure a loan against the property you receive interest payments.2) Equity: record an option to buy the property (ex. you have the option to buy the property for $115k for a specified time period.3) Purchase a partial ownership interest, ex. tenant in common ownership of 50% of equity4) combo equity participation loan , you share in the upside equity.

Also most of these properties qualify for a 203k loan which is an excellent loan option for an owner occupant though these loans aren't without their own set of hurdles and red tape.