If the new owner pays on the loan its not "equity skimming" from what I understand of it.

.- Understand what you value . . . do you want to have a phone call from the PM every Friday? 

I think a lot of investors are just scared of them because they don't understand them.

After researching the basics, I am looking forward to understanding the realistic steps in concluding a first deal.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

With your background in lease management and site selection, that could be a natural next step.Regarding STRs, I can understand the hesitation—accurate expense tracking is critical, and not having that data can make evaluating deals frustrating.

I've been through situations like this.Hopefully the family pays rent and this becomes a non-issue.If they don't pay the rent, you need to be understanding and kind, but firm.  

I fully understand there are consequences for my mistakes and I own up to that.

Recommend you have a great understanding of the answers to these questions before thinking about a lawsuit.You'll also want to use these questions as discussion points with any new PMC you interview.If you post the address, everyone here will be able to give you more feedback about the quality of the listing and perhaps more insights.

I’ve never actually been legally owed money before so I was green on how to handle things while trying to be understanding and respecting other lifestyles and career choices.