Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I’m local to the KC market and work with investors on the turnkey side as well as some on the Brrrr method.

*Provide information about rental rates and other terms and conditions of the rental, as set out in a schedule provided by the owner, and*Accept deposits, fees for credit checks, and other administrative duties, security deposits, and rent*Provide preprinted rental applications and respond to applicants’ inquiries about the application*Show rental units to prospective tenantsAs you can see, a non-licensed, non-resident manager is limited to performing rather routine tasks that don’t call for initiative or decision making.For instance, this manager would not be qualified to negotiate a lease (4), deal with late rents or other violations of the rental agreement or lease (5), or appear in court on your behalf (6).(1) My property manager does NOT live on any of the owners properties.(2) My property manager is unlicensed.(3) My property manager supervises 10 different properties.(4) My property manager has negotiated leases for 12 years without a license.(5) My property manager has dealt with late rents and violations.(6) Unknown

As an example they add up the security deposit to the rent amount and the statement says they paid it to you, but the reality is that they hold it.So yeah their spreadsheet is quite useless and you need to build your own.Airbnb UI is better in many regards but they only pay you when the guest is in and keep the money between the reservation date and checkin date.

I have done this method in the past and seems to work just fine in most situations.

I'm a veteran as well and use the BRRRR method (out of state), it's EASY.

Also, if current tenant has a security deposit, make certain it's transferred to you. 

We are once again going to receive a payoff on a secured note & dealing with a different escrow co.I hope  Jeff S.

I am looking at using flipping and BRRRR methods for my own personal REI.

He pays the rent to me from his checking account and he also paid the security deposit.