You're looking at a bear and a dog and saying it's the same animal because they both have four legs and fur.

HOWEVER, the forums were a group of people all wanting the same thing...to submit their deal to Michael in order to get their leg in to the syndication world. 

Cities like NYC and SF have intrinsic qualities that just can't be found in the surrounding burbs.Will there be another leg up on this chart by 2030?

But things may well be different where he is.It should be apparent just from reading his own link that things are not different in Alabama.A sweeping generalisation would be assuming that because your state doesn't have explicit legislation limiting late fees that you can charge them punitively and or excessively and ignore the doctrine in contract law that says you are only entitled to be made whole.I don't think the gentleman from Alabama has a leg to stand on if his tenants ever took him to court for late fees. 

****not a lawyer***With that disclaimer stated, common sense tells me that your lack of a lease means you have no real legal leg to stand on...no lease puts you in a month to month scenario.

I had a condo in hawaii where I was negative cash flow, but in 5-6 years I made $150k when I sold. so negative cashflow is not always bad just depends on your market and if the other legs of the chair can keep your numbers up.

Investors starting out and choosing to hire a PM view the business as a arm chair investment.

Otherwise, as that number creeps lower, the argument that we have a class of victims of the system, as unpaleteable as victim messages may be, has stronger legs to stand on.

Ideal features:Credit report (preferably of an actual credit bureau)Criminal check Eviction checkOption for me to fill in the tenant's data myself (many residents around this area are more comfortable with paper / phone than using the internet.)Preferably $35 or less (so I'm not charging potential residents an arm and a leg)Services I've heard of but have yet to try:Cozy.co <-- No ability for me to enter the tenant's dataHouserie <-- This one seems promising.

Some chair molding or crown molding would also help.