Do I need a *business* checking account to accept rent payments and pay for maintenance/repair costs as they arise?

Value add, which means a non-performing asset wouldn't even achieve a yield on cost of 7% after rehab and brining it up to performing status in Dallas.

They might cut corners on essential structural or system repairs, leading to hidden issues that can be costly to fix later.2.

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

Now they're paying the price, plus double closing costs and taking on additional risk. 

Maybe someone else can chime in on what those costs could be now. 

I purchased for 136k and seller paid my closing costs.

Competition is high and operation cost is high .My property is in California, so wanted to get ideas from owners who were in my shoes.Any suggestions appreciated.Thanks.

I don’t doubt that coaching is worth it to scale up quickly but might be good to do a lower cost options and buy a duplex or two at a minimum if you haven’t done so already.

There is many unnecessary structures that have a lot of cost associated with them.