Taxes ~$4k per year (hopefully can bring down as buying under assessed value).Currently has “long term tenants” paying $1150/moI’m going to be using management so their fee is 10% collected rent plus 1 month for placing a new tenant.

@Brian BriscoeI would rather collect payments long term then take the lump sum.

The landlords during covid that didn't collect rent for 6 months ,the tenants would have to stay for 300 months to average 2%.

Not collecting rent for a few months just means you don't have rental income for those months. 

Do nothing and keep collecting the rent checks.

For collecting rent/applications use COZY it's free and an awesome service.

The landlords that can't collect for 6 months. 5% vacancy is 1 turnover every 20 months.

Always do a background/credit check, call their last two landlords, collect a security deposit, have a formal lease, call their employer to verify income and to get an idea of how they perform at work and be extremely clear in your standards.

You're really just assuming someone's mortgage and instead of collecting rent, you're collecting a mortgage payment for the life of the mortgage (15-30 years, unless they cash out early).Now it would depend on how much capital or access to capital you have to outlay since notes are capital intensive but in essence it's really just this: instead of using your out of pocket capital to pay down your debt, you buy debt like cashflowing mortgage note and you utilize that arbitrage to make your credit card/loan payments.

@Pete PanciFor house hacking a duplex or triplex is the best option. you live in one unit and collect rent for the other 1-2 units.