Net proceeds - Is the amount of cash that goes into your exchange account.

My name is Andrew Grove, I am using my dad's Bigger Pockets account to reach out for help and advice.

This let's you hold all adults accountable in case of lease defaults. 

You also need to account for the eviction process, state laws etc...

Monitor the account that all x number of payments went out.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

Account Closed said, income and assets are the only "hassle" with a conventional loan.

$700 negative cashflow without taking into account several expenses.

I managed my own Airbnb account for the first 3 months after handing it over to Evolve.

My opinion is a lack of business organization.