@Eddie SorrellIf those market rent #'s are correct, I would clearly explain this to them, and then recommend that you offer to do some minor upgrades to the units for those existing tenants.Put up a fresh coat of paint on the walls, pay for carpet cleaning (if there are carpets), do minimal upgrades to the lighting fixtures, and maybe even throwing in some USB outlets -all relatively inexpensive upgrades to your units that will help force appreciate the rent, even if they decide not to stay. 

Example: On my first property I went to my bank and gave them the paperwork to apply for a residential loan.

Example: ARV is $100k. 

Examples of your favorites would be appreciated... along with the types of legal documents and expenses one should expect.Thanks in advance for your assistance and sharing your experiences.

If would be easiest for this transaction if I personally closed on the property, cut the $30k check and signed for the $500/mo (or whatever) mortgage, then informed him that he owed me $15k and $250/mo for the next 30 years.Then as rent checks come in (let's say 6 units at $800 apiece, so $4800/mo made out to the LLC), the LLC would pay the mortgage (-$500), the property manager (-$480 at 10%), set aside funds for maintenance/capex (another 15% of gross, -$720 in this example), any applicable utilities, taxes, insurance, etc (say another $500), that leaves us at 2600/mo. profit.

One place even allowed you to book by the MINUTE (for instance, a $30 service charge, plus $0.16 cents a minute) with a $70 minimum (meaning you would have to book AT LEAST four hours.)A further example: One hotel allows you to book a room from 2pm-8pm for $100.

Many people would never even consider being a landlord in the first place (my wife for example), because they would not want to confront others.

I didnt on this example but the fees were rolled into loan so the cash on cash return is the same.  

Here is an example:50% - 50% split of cashflow & equity - partner 1 finds the deal and funds the deal, partner 2 rehabs the deal and oversees property management for the life of the deal, partner 1 manages the realtor to sell the deal.I would greatly appreciate your input here.

Another good example is a wave of laws that prohibit background checks.