Most people do not realize when someone liens a property its just a lien, but to collect on it they must file a lawsuit to collect that money which will cost them 5x more than what its worth. 

They couldn’t handle the situation, and after months of frustration, I ended up dealing with the tenant directly to collect rent myself.RTR knew they’d messed up and even paid me some money as compensation, asking me not to post anything negative (which I’m clearly not doing).

We are considering renting both condos long term and hiring a rental management company to collect rent and manage. 

This is more tax efficient as the interest you collect would be subject to ordinary income (outside of an IRA, whereas in an IRA, there’d be no tax on this.

I have several questions - imagine being able to split up property ownership into tiny pieces or having every transaction out there for everyone to see, all secure and tamper-proof.

@Kevin Lorick are you getting a monthly Owner Statement showing how much they collected and what was deducted?

Just curious, how did you get a 9-unit under contract without a pre-approval or proof of funds?

Your lender may be looking at cash reserves or proof of funds.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

@Patricia Via you do NOT have to accept cosigners, so if occupant can't qualify on their own, you can deny for income.The #1 question with cosigners is - how can you collect against them?