You are only taxed on your 'profit' meaning you enter the full amount of rent you are collecting, but also expenses (interest, property taxes, condo fees, insurance, etc). 

I think if I buy my own property with 100k down and collect rent from my stepbrother who’d live there (approx 1700 a month) I’d be paying the same I do in rent which is (2k) + his rent and I’d have my mortgage covered and have equity but would be a lower tier home for 800k here in LA and would eventually wanna move.. 

@Kesete Thompkins in addition to a receipt make sure you collect their W9 before paying.

Just collecting the payments and retaining their fee for doing so. 

Take a class on debt collection practices.

I’m sure that 3rd party collections company got a decent cut of the collected amount, something the management company could have gotten on first attempt.

I can buy a good deal once a week in my market but until I collection of private money investors, I have to be a lot more selective.

Although I disagree with his concept of creating a collection agency type function (I prefer to let courts handle payments, etc.,) the BP topic Brandon Turner Nails it on the COVID-19 Rent Due Advice may be of interest to many who feel overwhelmed.

@Theresa HarrisI’m collecting 800 in cash flow for the TRIPLEX spit with a partner.

Technically the 15,000 in rent you chose not to collect just doesn’t exist.