This approach is cost-efficient and eliminates the complexities of dual-state filings.

The challenge with unsafe areas is (1) potentially higher cost of maintenance such as broken windows, etc. and (2) this is by no means meant to be discriminatory but anecdotally from people I've spoken to the challenging tenants tend to be at the lower price points.

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

Several people told me I shouldn’t do this, but it’s one effective way that helped me scale up to 29 SFR in 9 years.

Finding durable products at reasonable costs. 

You are only adding complications and costs with the LLC with no upside  This is all assuming there’s been almost zero appreciation and you shouldn’t sell tax free while you have the chance. 

If you live in a high cost of living area, investing in more affordable out-of-state markets can be a great strategy.

Firstly, you can save costs by paying your VAs directly.

If any costs go up, developer eats it.

Time and practice will still teach you as you do deals but it will help you understand what things costs for the size of the property